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The banks in Monaco want "wet" customers. These are customers who as well as borrowing money for property purchases also have funds under management with the bank.

 

"Dry" customers only borrow from the bank and are seen as much less attractive. The aim of the bank is to offer customers a complete private banking solution with wealth management at the top of the list. Lending may be seen as a way to attract clients to the bank.

 

This is one of the big differences between commercial and private banking. There are obvious risks in committing all your funds to one bank. However the more you commit the better deal you should get on the lending side. Because private banking in Monaco is bespoke you should not accept any "standard" terms. You can usually do better with additional clauses in your favour added to the bank's facility letter. You need to start the relationship with the bank in this way. Some money spent with a lawyer at this stage is probably a good investment. 

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