[1][2][3] Mercantile Bank arrived in Ipoh in 1928 when it opened an agency office at 11-13 Station Road (now Jalan Dato' Maharaja Lela).

[4] Soon after opening, construction began of a new building at the adjacent site owned by the estate of local businessman, the late Shaikh Adam, at 15-19 Station Road, for occupation by Mercantile Bank.

[1][5] The new three-storey building was designed by Keys & Dowdeswell where renowned Danish architect Berthel Michael Iversen had recently arrived.

Known for introducing modern architectural styles throughout Malaya, Iversen was considered to have been responsible for the design.

[5][6] Known initially as "Shaikh Adam Building", it was formally opened by British Resident Bertram Elles on 29 August 1931.