Fifty years ago, CMB Monaco opened its doors in the Principality and welcomed its very first clients.

The private bank, founded on October 1, 1976, as Compagnie Monégasque de Banque, began with just thirteen employees and a simple conviction: Monaco should have its own private bank.

Half a century on, it has grown into a leading international financial institution, while keeping the Monegasque identity woven into its name and history. Over the decades it has backed families across generations, supported entrepreneurs and financed projects that helped develop the Principality, a local commitment the bank says still sits at the heart of its business model.

That local focus now sits alongside a genuinely international clientele, drawn from 116 nationalities.

CMB Monaco has also positioned itself at the front of the industry technologically. It was the first bank to deploy the integrated Avaloq and BlackRock Aladdin Wealth platform, and the first European private bank to introduce generative artificial intelligence into its advisory work, through a tool called “Auto Commentary,” which turns complex portfolio analysis into personalised recommendations for clients.

Francesco Grosoli, Chief Executive Officer of CMB Monaco, said the bank’s ambition is to consolidate its position as a leading institution. He said technology allows the bank to go further in the precision, responsiveness and personalisation of its advice, while preserving what he described as remaining at the heart of the profession: the trusted relationship between a client and their banker. He added that after fifty years of history in the Principality, the bank’s focus is firmly on the future.

That strategy rests on three pillars, according to the bank: a solid financial foundation, reflected in a CET1 ratio of 27.9 percent; a leading technological platform; and a workforce of 275 employees.

Fifty years after its founding, CMB Monaco says it remains a bank born in Monaco and committed to its home territory, while also drawing on the wider expertise of shareholders Mediobanca and Banca MPS as it looks to shape the future of private banking.