EFG Bank (Monaco) (formerly EFG Eurofinancière d'investissements S.A.M)

EFG Eurofinancière d'Investissements was established in May 2006 when EFG International, a global private banking group offering private banking and asset management services, acquire the Monaco-based private banking organisation Banque Monégasque de Gestion from UniCredit Private Banking S.p.A., a subsidiary of UniCredito Italiano S.p.A.

Business Focus
Global Private Banking
Global Asset Management

EFG Bank (Monaco) is the 7th largest bank in Monaco in terms of total assets. In 2016 its total assets were 2 006,66 mln EUR, providing the bank with the market share of 4.50%.

Rank in Monaco
7th largest bank

Total Assets (2016)
2 006.66 mln EUR  (+9.46%)

EFG Bank (Monaco) participates in deposit guarantee scheme of France. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Address
15 avenue d'Ostende Monte Carlo, 98000, MONACO, Monaco
BIC (SWIFT)
EFGBMCMCXXX
MFI ID
FR18759

Financial Positions

Total Assets (2016)
2 006.66 mln EUR  (+9.46%)

In 2016 total assets of EFG Bank (Monaco) were 2 006.66 mln EUR. Growth compared to the previous period (2015) was 9.46%. The evolution of the total assets of EFG Bank (Monaco) is shown at Chart 1 below.

Total Assets of EFG Bank (Monaco).

Chart 1. Total Assets of EFG Bank (Monaco).

Market Position and Market Share (among banks in Monaco)

Total Assets (2016)
7th (market share 4.50%)

In 2016 EFG Bank (Monaco) was the 7th largest bank in Monaco in terms of total assets, having 4.50% of market share.

Market share of EFG Bank (Monaco)

Chart 2. Market share of EFG Bank (Monaco)

Several banks with market shares closest to EFG Bank (Monaco) are shown below.

RankNameTotal AssetsMarket Share
6 HSBC Private bank (Monaco) S.A.3626.26 mln EUR8.14%
7 EFG Bank (Monaco)2006.66 mln EUR4.50%
8 BNP Paribas wealth management Monaco1994.45 mln EUR4.48%
 

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

Credit institutions operating in Monaco participate in French deposit guarantee scheme on the same terms as French credit institutions.

In the case of EFG Bank (Monaco) failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  all deposit accounts (current accounts, demand accounts, passbook accounts, term accounts, home savings accounts, home savings schemes, etc.)
Covered Currencies  EEA currencies
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of EFG Bank (Monaco) and its components are shown in the table below.

BIC  EFGBMCMCXXX
Bank BIC Code  EFGB
Country Code  MC (Monaco)
Location Code  MC
Branch Code  XXX

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of EFG Bank (Monaco) is shown in the table below.

MFI ID  FR18759

European Presence: 6 banks in 6 countries

This bank operates in the following European countries and selected dependent territories of the European countries:

Cayman Islands

Cyprus

Greece

Luxembourg

Monaco

  •  (this bank) EFG Bank (Monaco) (MONACO)

Switzerland