The Société de Banque Monaco: A new banking player in the principality of Monaco, a joint subsidiary of Credit du Nord and the Société Marseillaise de Crédit

The Credit du Nord and Société Marseillaise de Crédit, which have historically been present in Monaco, are merging into a single bank, Société de Banque Monaco, in order to better participate in the economic development of the Principality of Monaco.

Société de Banque Monaco is thus a joint subsidiary of Credit du Nord and the Société Marseillaise de Crédit, and becomes the 9th bank of the Crédit du Nord group.

Credit du Nord’s anchorage in Monaco dates back to 1919. The one of Société Marseillaise de Crédit dates back to 1916. The creation of the new bank, with 100 employees and a GNP of around 40 million euros, continues the mutualizations already carried out between the two brands since 2017 on support functions in a dynamic growth.

The local brand Société de Banque Monaco will accelerate the conquest of new customers and develop the business in three markets, notably through the creation of a Business Centre in Fontvieille and the strengthening of the Private Banking business. The bank maintains its branches in the Monte Carlo, Condamine and Fontvieille districts. It is aimed at a clientele of individuals, professionals and companies.

With 700 years of history, 40,000 residents of 140 nationalities, the Principality of Monaco is a reference economic place with a network of international, industrial, commercial and service companies, leaders in niche markets.

“The Marseillaise Credit Corporation and Credit du Nord are joining forces and strengthening their presence in the Principality of Monaco, in line with the regional banking model anchored in its territory. Monaco Bank Company is a Monegasque bank for Monegasque entrepreneurs. »

Bruno Deschamp, Chairman of the Board of the Société Marseillaise de Crédit

Société de Banque Monaco

Source: SDBM – Banques à Monaco