Oceanic Bank

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Oceanic Bank International Plc.
Type	Public limited company
Industry	Finance
Founded	March 26, 1990
Headquarters	Herbert Macaulay Way, Wuse Zone 6, Abuja, Nigeria^[1]
Key people	Hayford Kponmwonsa Alile, Chairman John Aboh, Managing Director & CEO
Services	Banking
Revenue	₦74.9 billion
Net income	₦17.1 billion
Total assets	₦1.3 trillion
Website	Homepage

Oceanic Bank International, commonly referred to as Oceanic Bank, is a bank in Nigeria. Oceanic provides individual, commercial and corporate banking services. ^[2]

History

Oceanic Bank was incorporated on March 26, 1990, as a private limited liability company with 100% equity ownership by Nigerian citizens, and licensed on April 10, 1990, to carry on commercial banking. The bank commenced business on June 12, 1990, at the Waterfront Plaza, Plot 270, Ozumba Mbadiwe Avenue, Victoria Island, Lagos. It was listed on the Nigerian Stock Exchange on June 25, 2004.^[3] In October 2010, Cecilia Ibru, the former head of Oceanic Bank, was sentenced to eighteen months and ordered to forfeit over US$1 billion for fraud.^[4]

Global presence

As of May 2009, Oceanic Bank has subsidiaries in the following countries:^[5]

Cameroon
Gambia - This subsidiary was closed in January 2011.^[6]
Ghana
Nigeria
São Tomé and Príncipe - Sold to Global Fleet Group in May 2011.^[7]

Subsidiaries

The bank has the following subsidiary companies:^[8]

Oceanic Registrars Limited - Lagos, Nigeria
Oceanic Trustees Limited - Lagos, Nigeria
Oceanic Custodian Limited - Lagos, Nigeria
Oceanic Insurance Limited - Lagos, Nigeria
Oceanic Homes Limited - Lagos, Nigeria
Oceanic Securities Limited - Lagos, Nigeria
Oceanic Asset Management Limited - Lagos, Nigeria

External links

References

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