Established in March 1976 by Banca Commerciale Italiana and its partners, CMB is today wholly owned by Mediobanca, an Italian investment bank.

CMB is a wholly owned subsidiary of Mediobanca (a joint Italian and Monegasque company), which first acquired equity in 1989, obtained a controlling interest in 2004 and now has 100% of the share capital.

CMB has, however, continued to provide banking services for private clients, industrial groups and Monegasque institutions, with the goal of strengthening its local presence.

Currently CMB has bank deposits and savings of 7.5 billion euros[3] and a market share of 11%, in line with that of Crédit Foncier in France.

It also offers Lombard credits and real estate loans in support of its private banking activity.