Loïc Chollet-Vergé: "I was impressed by the general mobilization in this difficult period"

2015-01 penta-advisory

Loïc Chollet-Vergé has been managing the Caisse d'Epargne branch in Monaco for more than two years. He gives us his impressions of the unprecedented period we are going through, and of the future of his establishment.

How did you experience the pandemic at the Caisse d'Epargne Monaco?

Our priority was obviously to guarantee the safety of our customers and employees. Teleworking was set up very quickly, with prior assurance that our information system was secure. We are considered, like any financial institution, as an Operator of Vital Importance (OIV). This means that rules must be respected concerning confidentiality, data encryption, etc...
In addition, we have reacted very quickly by suspending our customers' credit maturities for six months, a measure that will be extended in certain sectors for the next six months. We have assisted our clients on Loans Guaranteed by the Monegasque State, and we have advised certain Monegasque business owners in France on the Loan Guaranteed by the French State. In Monaco, I was impressed by the general mobilization in these difficult times. Our exchanges with the Ministry of Economy and Finance were very numerous, but the companies and staff also reacted very well. This confirms the entrepreneurial dynamism of the Principality.

A year ago, you positioned the Caisse d'Epargne Monaco as the banker for Monegasque companies?

Indeed, we support Monegasque companies of all sizes: independent professionals, craftsmen, traders, medium and large companies, right up to institutional investors. Today, we are strengthening our teams in the professional sector, because we really want to be a partner to the whole spectrum of companies in the Principality, regardless of size or field of activity.

What do you offer them?

Our canvassing is based on a range of banking solutions: from the simplest to the most strategic operations, both locally and internationally. We offer exchange rate hedging, documentary credit, factoring, we secure e-commerce transactions...many tools are at our disposal. In addition, we are currently opening an automated room on Boulevard Princesse Charlotte where customers can deposit their checks, withdraw their change...a very practical tool.

You are also close to the real estate sector...

We work effectively with real estate professionals, property dealers, promoters. We finance their operations in Monaco but also, for Monegasques, in France. We assist final buyers in Monaco or in France via Monegasque investment tools. From Monaco, we also support our Monegasque clients in the West Indies, as well as in Saint-Barthélemy, by relying on the local network of the Caisses d'Epargne.