Societe Generale in Monaco
Societe Generale opened its first office in Monaco in 1903, located on the Boulevard de France in Beausoleil. Due to the statutory constraints that existed at that time, the bank initally operated from the adjacent municipality of Beausoleil rather than directly in Monaco.
Societe Generale's arrival to the Principality took place in 1962, with the opening of a branch at 16 Avenue de la Costa, the avenue where the Group's principal branch is still based today.
Progressively, branches were opened in other districts such as the Condamine, (17 Boulevard Albert 1st, opened in 1973) and Fontvieille (11 Avenue Papalins, opened in 1985).
In 1996, the group created a subsidiary Limited Company in Monaco, specialising in asset management. Societe Generale Private Banking Monaco was born. In September 2008, the Group opened a fourth address at 13 Boulevard des Moulins.
Today, the Societe Generale Group in Monaco consists of a branch of the Societe Generale retail bank and of the Societe Generale Private Banking. This subsidiary is a Monegasque company, registered in March 1996. Its capital of €7,650,000 is held by SGBT Luxembourg (99.8%) and by the Directors of the Bank (0.2%).