[5] The creation of the Bank was proposed by then Minister of Finance Federico Vidiella, was widely discussed in Parliament and in the local press, and on August 4, 1896, the law containing the thirty-four bases of the Organic Charter was promulgated.

[6] On August 24, 1896, the bank's first board of directors was installed, and on October 22 it formally opened its doors, with 54 employees.

In 1941, the Board of Directors resolved to create the Department of Economic Research, thus perfecting the Bank's advisory role to government bodies.

[11] The building, designed by the Italian architect Giovanni Veltroni in a neoclassical style, was built in 1866 to house the Italian Bank, and was later used successively by other banking institutions, such as Banco Unión, or by the Junta de Crédito Público and by Banco Nacional until its dissolution.

As of February 2023 the bank maintained 124 branches throughout Uruguay and 2 overseas (Buenos Aires and New York City).