Since its foundation in 1976, the Compagnie Monégasque de Banque (CBM), one of Monaco’s leading private banks, focuses on providing quality private banking services to meet the needs of its clients. Today, the bank is entirely owned by Mediobanca SPA, a specialised financial group listed on the Milan Stock Exchange. In light of this unprecedented health and economic crisis, CMB has pledged its support to the Princess Grace Hospital. The crisis has also forced CMB to review its working habits.

Fundraising for Monaco’s Princess Grace Hospital

On April 10th, 2020, CBM set up a fundraiser for Monaco’s Princess Grace Hospital hoping to attract residents and friends of the Principality alike. As a local institution and a leading private bank in the Principality, CMB was keen to be a key player in Monaco’s fight against Covid-19.  As the result of this initiative and thanks to 103 donors, the campaign ended in mid-May with a resounding success. No less than 470,955 euros collected, including 100,000 euros donated by the CMB.

These donations have enabled the acquisition of supplies that will allow Monaco to carry out Covid-19 tests autonomously. The donations have also gone to fund medical and protective equipment for all healthcare professionals involved in the fight against coronavirus.

“An opportunity to reinvent ourselves for the better”

The crisis has drastically changed CMB’s way of communicating with the use of videoconferencing platforms – including Webex and Skype Enterprise – is now an integral part of the daily life of bank’s teams.

“The pandemic has taught us new working habits and ways of keeping in touch with our staff, customers and partners,” says Francesco Grosoli, Chief Executive Officer of CBM. “This is a unique year for companies and an opportunity to reinvent ourselves for the better.

Despite the uncertainty caused by this unprecedented health crisis, CMB’s CEO is positive: remote working has not had a negative impact on the bank. On the contrary, its speedy implementation enabled CMB to achieve objectives set at the onset of the pandemic, always with one priority in mind: “to protect our customers, employees and partners, while maintaining a quality of service that meets the expectations of our customers”, explains Francesco Grosoli.