CMB Monaco Celebrates 50 Years in the Principality
Founded in 1976, CMB Monaco is marking half a century in the Principality in 2026. Since welcoming its first clients on 1 October 1976, the institution, a subsidiary of the Mediobanca group, has followed the evolution of Monaco’s financial centre, from a full-service bank to a leading private bank.
CMB Monaco, a private bank based in the Principality since 1976, marked on 1 October 2026 the milestone of 50 years since it opened to clients. The anniversary highlights the role of a long-standing player in Monaco’s banking sector, now focused on wealth management and advice for private clients.
1976: the birth of Compagnie Monégasque de Banque
Compagnie Monégasque de Banque (CMB) was founded in March 1976 by Banca Commerciale Italiana and several international partners. It welcomed its first clients on 1 October 1976: thirteen people, one address in the Principality and the conviction that Monaco deserved a private bank of its own, as the bank recalled in its anniversary message. Its Monegasque roots, from the very beginning, remain the institution’s hallmark.
From a full-service network to private banking
In 1996, the bank took over COMIT’s Monegasque branches, strengthening its local presence. It then gradually refocused its business on private banking and wealth management, the positioning it holds today.
The arrival of Mediobanca
Mediobanca took a stake in CMB in 1989 and gained control in 2004. The bank is now 100% owned by the Italian group, drawing on its international expertise while keeping its Monegasque identity.
A bank looking to the future
On its 50th anniversary, CMB Monaco continues its transformation. It recently announced the strengthening of its technology infrastructure with Avaloq and BlackRock Aladdin, and has just renewed its Fair-ON-Pay certification, which attests to equal pay between women and men within its teams.
As of 31 December 2025, the bank reported €17.7 billion in client financial assets and a net profit of €38.4 million. It currently has around 280 employees, compared with thirteen at the start.
This development is part of a broader trend: private banks in Monaco are accelerating their digital transition.
Half a century of commitment to Monaco
Fifty years after its founding, CMB Monaco remains one of the Principality’s leading private banks. The anniversary illustrates the continuity of a model built on closeness to clients, the strength of a major banking group and a lasting attachment to Monaco.
Photo: @cmbmonaco on LinkedIn
