Initially, the office of the State Bank of the Russian Empire was situated in the building.

At the beginning of the 20th century, the office of the State Bank was located in a two-story building on the corner of Bolshaya Sadovaya Street and Sredny Prospekt (now Sokolova Avenue).

In the 1920s, according to Peretyatkovich's plans, the south-eastern part was completed, where private apartments of employees were located.

During the reconstruction of the square, the fronts of other buildings were designed in a similar neoclassical style.

[2] In the 1950s, instead of a sculptural composition with a double-headed eagle, the coat of arms of the USSR was installed on the facade of the building .