This year, our firm is celebrating its fortieth birthday.
From a modest start in 1976 with a dozen employees and a few hundred square metres to nearly 210 employees and
5,000 m² today, it has successfully combined internal and external growth since 1996 with the takeover of the Banca Commerciale Italiana, followed by ABN Amro in 2006 and Capitalia in 2008.
It is a solid and resourceful forty-year-old.
Solid in terms of its balance sheet, with over 700 million euros in equity as of 31 December 2015.
Solid too in terms of its results, which are still excellent despite the financial crisis that started in 2008 and is not yet completely over.
It demonstrated its resourcefulness by successfully handling the major changes that have affected Monaco's financial marketplace, by progressively adapting its sales policy and products.
This strengthened our commercial activities on our domestic market - the Principality now represents a little over 50% of our turnover - and expanded it internationally to new customer bases.
To support this expansion, innovative products were developed by our asset management specialists to meet the needs of these new customers, especially via Luxembourg, to take advantage of the "European passport".
Like Henri Bergson, we are well aware that "the future doesn't happen to us, we create it".
As befits a major institution in the financial marketplace, Compagnie Monégasque de Banque never ceased to support the main cultural and scientific stakeholders in the Principality, even going so far as to increase our support this year to celebrate our 40 years.
Etienne Franzi
