Wednesday, 27 October 2021
Banks in Monaco. Opening an account in Monaco
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Monaco's banking sector goes back to the late nineteenth century, when the Principality okrylis first deposit banks, most of them French. The banking industry has developed very slowly, and actually boost was given only in 1970., When the current and future policies of public authorities, long- period of economic growth and political and social stability to bear fruit. Today, Monaco has a very extensive network of banking institutions, has 43 credit institutions (as of November 1, 2004)

In Monaco, there are:

-19 Monegasque banks;
-1 Bank with special status;
- 9 branches of banks headquartered in other countries;
- 13 branches of French banks;
- 1 branch of the French bank, which is under foreign control.

The total assets of nearly 60 billion euros, 70% of which belongs to non-residents.

In the Monegasque financial institutions today employs about 2,200 employees - their number has increased over the past 10 years, more than 40%.

Almost all of these institutions operate on the leading banking groups. As a result of various agreements between France and Monaco, the Principality of actions of the French banking legislation. Monegasque banks are guided by the same standards and rules of conducting banking business and supervision of that French banks. Of course, all control measures are strictly regulated, which guarantees the confidentiality of the operations of financial institutions in Monaco. Monaco banks offer both commercial and retail banking services, although many of them are increasingly engaged in providing private banking and wealth management, which is explained by the peculiarities of the Principality and refined international clientele. This trend is reinforced by the recent appearance in Monaco a large number of companies engaged in portfolio management. The reason for this is a beneficial legislation Monaco in terms of regulating this type of banking activities (Law № 1.194 on July 9, 1997 and subsequent legislation № 1.241 on July 3, 2001). Monaco's banking sector is confident in the future and preparing for a new stage in its growth, not to mention the opportunities offered by professional growth and further consolidation of Europe.

Some of the banks operating in Monaco:

American Express Bank (Switzerland) SA (American Express) Bank (Switzerland) SA (Bank (Switzerland) SA)
CТte d'Azur popular Bank (Banque Populaire Cote D'Azur)
Bank Priv Fideuram Varney (Banque Privee Fideuram Wargny)
Monegasque de Geston Bank (Banque Monegasque de Gestion)
Banque de Geston Edmond de Rothschild-Monaco (Banque de Gestion Edmond de Rothschild-Monaco)
Bank du Gothard Monaco (Banque du Gothard Monaco)
Bank of International di Roma (Banca di Roma International)
Bank Pasche Monaco (Banque Pashe Monaco)
Bank Martin Marelle (Banque Martin-Maurel)
Bank von Ernst (Monaco) (Banque Von Ernst (Monaco)
BNP Paribas (BNP Paribas)
Bank of Popolare di Disondrio (Switzerland) (Banca Popolare di Disondrio (Suisse)
Barclays Bank PLC (Barclays Bank PLC)
Banco Atlantico (Monaco) SAM (Banco Atlantico (Monaco) SAM)
Cass Rezhional de Credit Agricole Provence CТte d'Azur Myutyuel (Caisse Regionale de Credit Agricole Mutuel Provence Cote D'Azur)
Caisse de Mediterranen Finansman (Caisse Mediterraneennee de Financement)
KAIKSA Generale de Depozitos (CAIXA General de Depositos)
Coutts & Co. (Coutts & Co.)
Credit Suisse (Monaco) (Credit Suisse (Monaco)
Credit Mobilier de Monaco (Credit Mobilier de Monaco)
Credit Lionnez (Credit Lyonnais)
Credit du Nord (Credit du Nord)
Credit Fones de Monaco (Credit Foncier de Monaco)
CB Luxembourg (Monaco) (KB Luxembourg (Monaco)
Companies Monegasque de Bank (Compagnie Monegasque de Banque)
Enetenial (Enetenial)
TiEsBi Lloyds Bank Plc (Lloyds TSB Bank PLC)
Monte Pasha Bank (Monte Paschi Banque)
Natexis Prive Banking Luxembourg SA (Natexis Private Banking Luxembourg SA)
Societe de Peimant Pass (Societe des Paiements Pass)
CA Lionnez de Bank (Lyonnaise de Banque)
Societe Generale (Societe Generale)
Societe de Credit Marsellez (Societe Marsellaise de Credit)
Societe Generale Bank e Trust (Monaco) (Societe Generale Bank & Trust (Monaco)
YuBiEs (Monaco) SA (UBS (Monaco) SA)

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