The list of the different banks in Monaco
Monaco has 25 banks as at 1 September 2026: 13 banks incorporated under Monegasque law and 12 branches or agencies of foreign banks, according to the membership list of the Monegasque Association for Financial Activities (AMAF).
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Behind that figure lies a very particular financial centre: few institutions, but a concentration of wealth management unmatched in Europe relative to the population. This page lists the banks genuinely present in the Principality, explains how to open an account there before you are a resident, corrects the names of institutions still quoted although they have disappeared, and sets out what international supervision has really changed for private clients.
Key TakeawaysBanks in Monaco
Key Takeaways: banks in Monaco
Banks in Monaco form a short but dense marketplace, dominated by wealth management. Here are the useful benchmarks before opening an account or financing a purchase.
NumberMonaco has 25 banks as at 1 September 2026, of which 13 under Monegasque law and 12 branches of foreign groups (AMAF membership list).
SpecialityPrivate banking dominates: alongside the 25 banks, the AMAF lists 74 asset management companies licensed in the Principality.
Non-residentsA non-resident may open an account in Monaco: no Monegasque residency is required, but each bank assesses the file at its own discretion.
ResidencyA Monegasque bank certificate is required for the residence card only if the applicant can show neither employment, nor a company, nor a pension, nor a guarantor.
Minimum amountNo official deposit threshold exists. The Prince's Government expressly leaves the assessment to the banking institution.
MonitoringMonaco has been on the FATF grey list since 28 June 2024 and was still on it on 19 June 2026, despite an action plan deemed substantially completed.
SupervisionMonegasque banks are supervised by the French ACPR, the CCAF licenses financial activities and the AMSF replaced SICCFIN on 30 September 2023.
CreditNo bank in the Principality publishes its property lending terms: financing is negotiated file by file, most often secured against assets placed under management.
Petrini tip: open the banking relationship before you sign, not afterwards. In a purchase or rental file in Monaco, it is almost always the banking timetable, not the property timetable, that dictates the schedule.
How many banks are there in Monaco in 2026?
Twenty-five banks are AMAF members as at 1 September 2026. That figure is stable: since Monaco was placed on the FATF grey list, no bank has left the Principality.
Three different counts circulate, and they do not measure the same thing. The 25 institutions correspond to the banks that belong to the professional association. IMSEE, the Monegasque statistics institute, counts 48 establishments classified under “monetary intermediation” in 2025, a broader statistical perimeter that includes non-member entities. The AMAF, for its part, publicly mentions “around thirty banks” on its presentation page, an approximate and undated wording. Quoting a single figure without stating its perimeter means comparing quantities that do not share the same definition.
The Monegasque banking sector in figures
Sources: AMAF membership list as at 1 September 2026; IMSEE, Monaco en chiffres, 2026 edition, 2025 data; AMAF 2025 figures reported by the Monegasque press in March 2026.
| Indicator | Value | Year and source |
|---|---|---|
| AMAF member banks | 25 | 1 September 2026, AMAF |
| Member asset management companies | 74 | 1 September 2026, AMAF |
| Employees in monetary intermediation | 2,815 | 2025, IMSEE |
| Employees in finance and insurance | 4,621, that is 7.7% of salaried employment | 2025, IMSEE |
| Resources deposited with the banks | 182.9 billion euros | 2025, AMAF via the Monegasque press |
| Outstanding loans | around 30 billion euros, up by more than 4% | 2025, AMAF via the Monegasque press |
Table by Petrini Exclusive Real Estate Monaco. The AMAF perimeter (association members) and the IMSEE perimeter (statistical classification) do not overlap: comparing them directly makes no sense.
Set against the size of the territory, that level of deposits explains why the Principality concentrates a density of international ultra high net worth individuals unmatched in Europe. The financial sector accounts for close to 19% of Monegasque gross domestic product according to the marketplace figures for 2025.
The list of banks incorporated under Monegasque law
Thirteen banks are incorporated as Monegasque-law companies. They are, in the main, private wealth management banks, subsidiaries of Swiss, French, Italian or Spanish groups.
The 13 banks incorporated under Monegasque law
Source: official membership list of the Monegasque Association for Financial Activities, consulted on 1 September 2026.
| Bank | Address in Monaco |
|---|---|
| Andbank Monaco SAM | 1, avenue des Citronniers |
| Bank Julius Baer (Monaco) SAM | 13, avenue de Grande-Bretagne |
| Banque J. Safra Sarasin (Monaco) SA | 15/17 bis, avenue d’Ostende |
| Banque Richelieu Monaco | 8, avenue de Grande-Bretagne |
| CFM Indosuez Wealth Management | 11, boulevard Albert 1er |
| CMB Monaco | 17, avenue des Spélugues |
| Crédit Mobilier de Monaco | 15, avenue de Grande-Bretagne |
| Edmond de Rothschild (Monaco) | 4, avenue Prince Pierre |
| EFG Bank (Monaco) | 15, avenue d’Ostende |
| Moncrief Private Bank (Monaco) SAM | 3-7, boulevard des Moulins |
| Rothschild & Co Wealth Management Monaco | 11, boulevard des Moulins |
| Société Générale Private Banking (Monaco) SAM | 11, avenue de Grande-Bretagne |
| UBS (Monaco) S.A. | 2, avenue de Grande-Bretagne |
Table by Petrini Exclusive Real Estate Monaco. List as at 1 September 2026, in alphabetical order.
Four of these houses have changed name or shareholder in recent years. CFM Indosuez Wealth Management, founded in 1922 as Crédit Foncier de Monaco, took its current name in November 2015 within the Crédit Agricole group. CMB Monaco is owned by Mediobanca, which came under the control of Banca Monte dei Paschi di Siena in September 2025. Moncrief Private Bank is the former Banque Havilland Monaco, taken over by a consortium of investors in August 2025 with the approval of the CCAF and the ACPR. Banque J. Safra Sarasin (Monaco) absorbed the former Monegasque subsidiary of Credit Suisse in January 2017.
The list of foreign bank branches in Monaco
Twelve institutions operate in the Principality as a branch or agency of a foreign bank. They include the large French retail networks, which handle most everyday banking, and several Swiss and Italian wealth management houses.
The 12 branches and agencies of foreign banks
Source: official membership list of the Monegasque Association for Financial Activities, consulted on 1 September 2026.
| Institution | Address in Monaco |
|---|---|
| Banca Popolare di Sondrio (SUISSE), succursale de Monaco | 3, avenue Princesse Florestine |
| Bank Pictet & Cie (Europe) AG, succursale de Monaco | 2, avenue Saint-Michel |
| Banque Populaire Méditerranée | 3-9, boulevard des Moulins |
| Barclays Bank Plc (Monaco) | 31, avenue de la Costa |
| BNP Paribas | 1, boulevard des Moulins |
| Caisse d’Epargne Côte d’Azur | 27, boulevard des Moulins |
| CIC, agence de Monaco | 26, boulevard Princesse Charlotte |
| Crédit Agricole Monaco | 23, boulevard Princesse Charlotte |
| La Banque Postale | 1, avenue Henry Dunant |
| LCL Monaco | 1, avenue des Citronniers |
| SG Monaco | 16, avenue de la Costa |
| Union Bancaire Privée, UBP SA, succursale de Monaco | 17, avenue d’Ostende |
Table by Petrini Exclusive Real Estate Monaco. List as at 1 September 2026, in alphabetical order.
The banking geography of the Principality is extremely compact. Avenue de Grande-Bretagne, avenue de la Costa and boulevard des Moulins alone concentrate half of the institutions, all a few minutes on foot from one another, within the perimeter of the Carré d’Or and its immediate surroundings.
What types of banks are there in Monaco?
The Monegasque marketplace reads in three families: private wealth management banks, retail banks for everyday life, and portfolio management companies that do not hold accounts.
Private banks form the core of the marketplace. Edmond de Rothschild, Julius Baer, Pictet, J. Safra Sarasin, UBS, Barclays, Rothschild & Co, EFG and CMB Monaco serve a wealthy clientele and offer wealth management, estate planning and lending secured against assets. Retail banks, mainly French, provide everyday banking for residents, employees and shopkeepers: BNP Paribas, Crédit Agricole Monaco, LCL, CIC, Caisse d’Epargne Côte d’Azur, Banque Populaire Méditerranée and La Banque Postale. The asset management companies, 74 in number, manage portfolios on behalf of third parties but do not take deposits: opening an account therefore means going through a bank.
One clarification is needed on a frequently misunderstood point. There is no “offshore bank” in Monaco: any banking activity requires a licence and supervision, within the same prudential framework as French banks. Absolute banking secrecy belongs to the past, Monaco applying the automatic exchange of tax information.
These bank names no longer exist in Monaco
Many pages devoted to Monegasque banks still quote institutions that have disappeared. Position as at 1 September 2026.
| Name still quoted | Reality in 2026 |
|---|---|
| Société de Banque Suisse | Merged with Union de Banques Suisses on 29 June 1998 to form UBS. The name has not existed for 28 years. |
| Crédit Foncier de Monaco | Became CFM Indosuez Wealth Management in November 2015, within the Crédit Agricole group. |
| Credit Suisse (Monaco) | Taken over by the J. Safra Sarasin group, a transaction completed in January 2017, six years before the UBS and Credit Suisse merger. |
| Banque Havilland (Monaco) | Became Moncrief Private Bank (Monaco) after its acquisition, completed in August 2025. |
| HSBC Private Bank Monaco | Left the marketplace, its Monegasque clientele having been transferred to CFM Indosuez. Effective exit in 2019. |
Table by Petrini Exclusive Real Estate Monaco, based on the press releases of the institutions concerned and on the AMAF membership list.
Can you open a bank account in Monaco without being a resident?
Yes. No Monegasque rule reserves the opening of an account to residents alone: according to AMAF data for 2023, the latest published breakdown, 42% of the resources deposited with Monegasque banks came from non-resident clients. Each bank nevertheless remains free to accept or decline a file.
The procedure requires a valid identity document, proof of address, information on the source of funds and, for non-residents, often proof of professional activity or a tax identification number. These requirements stem from the due diligence obligations imposed by Law no. 1.362 of 3 August 2009, as amended. Each institution then sets its own onboarding policy, which is never published.
One point deserves correction, because it circulates widely in the files of applicants for Monegasque residency. A bank certificate from a Monaco institution is not systematically required to obtain the residence card. The official procedure sheet distinguishes between profiles: an employee proves their job, a company director their extract from the Trade Register, a retired person their pension, a dependent person a letter from a guarantor. The bank certificate applies only “in other cases”, that is, to an applicant who can show neither activity, nor pension, nor guarantor.
In that case, the Prince’s Government sets no threshold: the official wording states that “the amount deemed sufficient depends on the Monaco banking institution that will provide a certificate”. All the minimum amounts read elsewhere, 500,000 euros or one million, appear in no text and on no official page. The reference source remains the Apply for a residence card sheet on the monservicepublic.gouv.mc portal, updated on 26 May 2025.
Two mechanisms are worth knowing. First, anyone carrying on a professional activity in the Principality, like any Monegasque company, is required to hold an account with an institution established in Monaco for the whole duration of that activity: it is an unavoidable step in any plan to set up a company in Monaco. Second, Law no. 1.492 of 8 July 2020 establishes a right to an account: the bank approached has 15 working days to open the account or issue a refusal certificate, which allows the applicant to refer the matter to the Budget and Treasury Department so that an institution is designated automatically.
The apparent vicious circle, an account for the residency and a residency for the account, is resolved in practice by the provisional receipt confirming that the residence card application has been filed, issued by the Public Security Department and accepted by the banks.
Has opening an account in Monaco become more difficult?
Yes, access to an account has tightened since 2024, without any restriction being imposed on the banks of the marketplace. The tightening comes from the internal policies of the institutions, not from a Monegasque rule.
Three facts date this change. Monaco was placed on the FATF grey list, the list of jurisdictions under increased monitoring, on 28 June 2024. The Principality was then added to the European list of high-risk third countries, with effect from 6 August 2025, which leads European Union banks to apply enhanced due diligence to clients connected with Monaco. Finally, at its plenary of 19 June 2026, the FATF considered that Monaco had substantially completed its action plan and decided to organise an on-site visit, the last step before a possible delisting. No date has been set for that visit, and the Principality is still on the list. Our analysis of the impacts of the FATF grey list on Monaco details the concrete consequences for property and for the formalities of residents.
For private individuals and companies, the subject is publicly documented. In April 2025, the president of the Monaco Chamber of Legal Advisers described in the Monegasque press account opening refusals that had become almost systemic, often justified by reputational risk alone, targeting yachting, marketing and finance in particular. A bill sent to the Government on 22 October 2024 aims to make the right to an account genuinely effective. No official statistic quantifies the phenomenon, and the Chamber itself says so.
Professional insight
The media reading of the grey list and the reality observed on the ground do not coincide, and the two levels must be distinguished.
At macroeconomic level, the listing has produced neither capital flight nor departure of institutions: the resources deposited with Monegasque banks rose from 176 billion euros at the end of 2024 to 182.9 billion in 2025, and outstanding loans grew by more than 4%. No coercive measure has been imposed on the banks of the marketplace.
At individual level, by contrast, the effect is real: onboarding times have lengthened and atypical files are more often set aside. This is not a tightening of Monegasque regulation, it is greater caution on the part of the banks themselves. For a buyer, the practical consequence is simple: the banking timetable must be started at the same time as the property search, never afterwards.
Who supervises Monegasque banks?
Three authorities share the supervision: the French ACPR for prudential soundness, the CCAF for licensing financial activities, the AMSF for anti-money laundering.
Under the France-Monaco agreements, banks established in the Principality are supervised by the Autorité de Contrôle Prudentiel et de Résolution and follow the same prudential rules as French banks. It is a point that candidates for relocation often underestimate: a Monegasque bank does not escape the European framework, it is anchored to it. The takeover of Banque Havilland Monaco in 2025 had to be approved jointly by the ACPR and by the Monegasque authority.
The Commission de Contrôle des Activités Financières, established by Law no. 1.338 of 7 September 2007, licenses and supervises management activities, with the assistance of the French Autorité des Marchés Financiers, and publishes its decisions in the Journal de Monaco.
The most important change is recent and remains little known: SICCFIN no longer exists. Under Law no. 1.549 of 6 July 2023, it was transformed into the Autorité Monégasque de Sécurité Financière, an independent administrative authority since 30 September 2023, which combines the roles of financial intelligence unit, supervisor and sanctioning authority. Suspicious transaction reports are filed with it exclusively through the goAML platform, paper reports no longer being accepted since 1 January 2024. Any page still referring to a report to SICCFIN describes a system that has disappeared.
Obtaining a bank loan for a property in Monaco
No bank in the Principality publishes a property lending rate card: in Monaco, financing is negotiated file by file, not from a grid. That is the first thing to understand before comparing it with the long-term mortgage practice familiar in the United Kingdom or the United States.
Outstanding loans in the Principality approached 30 billion euros in 2025, up by more than 4%: credit exists and is active, but it follows private banking logic rather than retail banking logic. Based on the observations of our agency, Monegasque institutions finance a wealth relationship first: pledging assets placed under management is the norm rather than the exception, and the terms offered are appreciably shorter than those a British or American buyer is used to.
“In Monaco, access to credit depends less on the property than on the banking relationship. Institutions here lend above all against assets placed under management, and over terms markedly shorter than what a British or American buyer has in mind.” Paolo Petrini
One development is worth pointing out to buyers: since spring 2023, CFM Indosuez Wealth Management has included environmental criteria in all its property financing, the environmental performance of the property forming an integral part of the lending conditions. In an older housing stock, renovation ceases to be a matter of comfort and becomes a financing parameter.
This is where the choice of adviser makes the difference. Our agency has followed the market building by building for more than forty years and works with the banking contacts of the marketplace: we know which institution looks at which type of file, and at what point in the schedule it should be approached. That knowledge avoids the most expensive scenario, an offer accepted on a property whose financing will not arrive in time. The detail of the costs to budget for a purchase in the Principality usefully completes this financial framing.
The major private banks of Monaco
Nine houses structure Monegasque private banking. Here is what distinguishes the main ones, with their current ownership.
CFM Indosuez Wealth Management
Founded in 1922 as Crédit Foncier de Monaco, CFM Indosuez is today the bank of the Crédit Agricole group in the Principality and the most locally established, with five branches. It presents itself as the only institution in the marketplace serving private clients, companies, institutions and property professionals at the same time, with a team dedicated to financing development and renovation.
CMB Monaco
Compagnie Monégasque de Banque is 100% owned by Mediobanca, itself brought under the control of Banca Monte dei Paschi di Siena in September 2025. It is one of the few large banks in the marketplace whose decision centre is in Italy.
Edmond de Rothschild (Monaco)
Present in Monaco for forty years, the bank inaugurated its new Monegasque headquarters in July 2026, the Maison Valentina in La Condamine: eleven floors, around 5,300 square metres and 270 staff. It is the most visible banking property investment of recent years in the Principality.
Bank Julius Baer (Monaco)
Monegasque subsidiary of the Swiss group Julius Baer, specialised in wealth management. The group is present in Monaco through two separate entities, a bank and an asset management company.
UBS (Monaco) S.A.
Monegasque-law bank of the leading Swiss banking group. Contrary to a frequent confusion, the merger between UBS and Credit Suisse in 2023 had no consolidation effect in Monaco, Credit Suisse no longer having a bank there since January 2017.
Barclays Bank Plc (Monaco)
Branch of the British bank, on avenue de la Costa, coupled with an asset management company at the same address. Far from any withdrawal, the group confirmed a new chief executive for its Monegasque private bank in March 2026.
Bank Pictet & Cie (Europe) AG, succursale de Monaco
The Geneva group announced the opening of its Monegasque branch on 29 June 2022. Its presence in Monaco is therefore recent, which explains its absence from many lists still online.
Banque J. Safra Sarasin (Monaco)
Born from the acquisition of the former Monegasque subsidiary of Credit Suisse, completed in January 2017, it belongs to the Swiss banking group controlled by the Safra family.
Moncrief Private Bank (Monaco)
Formerly Banque Havilland Monaco, taken over in August 2025 by a consortium of investors and renamed. It presents itself as the only independent private bank based in the Principality.
Choosing a bank in Monaco is less about comparing fees than about identifying the institution whose onboarding policy matches your situation. An employee of the Principality and a non-resident international investor do not approach the same houses, and will not obtain the same timescales. This is as true for a relocation plan as for an acquisition: the real cost of living in the Principality is prepared with an account open and a banking relationship established, well before the first viewing.
FAQBanks in Monaco
Frequently asked questions about banks in Monaco
- How many banks are there in Monaco?
Monaco has 25 banks as at 1 September 2026, of which 13 are incorporated under Monegasque law and 12 are branches or agencies of foreign banks, according to the AMAF membership list. The marketplace also counts 74 licensed asset management companies, which manage portfolios but do not hold accounts. - Can you open a bank account in Monaco without being a resident?
Yes, no rule reserves the opening of an account to residents: 42% of the resources deposited with Monegasque banks came from non-resident clients according to AMAF data for 2023. You must provide an identity document, proof of address and information on the source of funds. Each bank remains free to accept or decline the file. - Do you need a Monegasque bank account to obtain the residence card?
Not systematically. An employee, a company director, a retired person or a dependent person prove their resources in another way. A bank certificate from a Monaco institution is required only for an applicant who can show neither activity, nor pension, nor guarantor. - Is Monaco still on the FATF grey list?
Yes. Monaco has been on it since 28 June 2024 and was still on it at the plenary of 19 June 2026. The FATF judged the action plan substantially completed and decided to organise an on-site visit, the last step before a possible delisting, with no date announced to date. - What minimum amount must be deposited with a Monegasque bank?
No official minimum amount exists. Petrini Exclusive Real Estate Monaco observes that the threshold actually requested varies widely depending on the bank and the client profile. The Prince’s Government itself states that the amount deemed sufficient depends on the banking institution issuing the certificate.
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