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,  with business offices located in several parts of Nigeria.

The Bank is one of the largest in Nigeria. Her financial year runs from January 1 to December 31 of the subsequent year. Oceanic bank's impressive performance over the years accounts for the quality of its customer portfolio which includes Corporate Organizations, High Net-worth Individuals, the Federal Government and some State Governments. To enhance response time, relationship management units have been structured as follows: Corporate Banking Group (CBG), Treasury and Financial Institutions Group (TFIG), Retail Banking Group (RBG), Public Sector Group (PSG)

Staff in each sector have profound knowledge of the various industries and are therefore able to respond to customers' peculiar needs.