In the late nineteenth century, the center of Madrid was gradually becoming the financial center of the country. Most banks and large corporations were building their sites around the axis formed by the square of Puerta del Sol, Calle de Alcalá and the Paseo de Recoletos, being especially dense street location in Seville and its surroundings . In fact, the first building to be built in the area in the corner of Alcalá and Seville Street, was the headquarters of the Equitable Insurance Company. It was built between 1882 and 1891 following a design by architect José Grases Riera.
The building, a very eclectic original, stands on a very sharp triangular plot was cleverly exploited by Riera to emphasize its monumentality. As for its facade stand out especially in the form of brackets elephant head supporting the first floor balcony. It is also interesting semicircular body confluence angle, topped by a clock tower and a bandstand.
Throughout its history the main floor of the building has had various uses: until 1910 was occupied by the premises of the Casino de Madrid, later housed the Embassy of Japan, and finally, was the headquarters of the Academy of Fine Arts until his transfer to its new building on Calle Alcalá. Finally, in 1920 the Spanish Credit Bank bought the building and instructed his architect Joaquín Saldaña reform. It was in this reform when he took off his bronze sculpture of blind arch, which was replaced by a sign with the name of the bank.