The building belongs to a banking institution that was constructed by Chilean architect Hugo Faggioni. The work lasted 18 years, and its first stone was placed in 1920; by 1936 the building was extended to 9 de Octubre Avenue and its final inauguration was in 1938, which included the expansion to Pichincha and P. Ycaza streets. The construction was carried out during the administration of Victor Emilio Estrada.
The bank vaults worked there until 1995 and in 2009 it was sold to Tarcom Company of Guayaquil to turn the building into a clothing store.
This building has historical value, since the famous interview held between the generals Bolivar and San Martin took place at the same exact site on July 26, 1822, when the construction was the house of Spanish banker Manuel Antonio de Luzarraga y Echezurria. For that, two plaques were placed at the front that testify the act and highlight the importance of the location.
Despite the fact that the building is from the 30's, it still maintains its original design. It’s a corner building with semicircular windows that resemble a rounded archway. The corner has a design that creates a third plane that serves as a transition from the main facades.
The front is distinguished by the double column of composed capital and smooth shaft that runs through the building and holds the cornice, in which there is a mezzanine with a row of windows facing the street.
The pediment (main entrance) has the name of the building and a template, also called aedicule, with a pediment in the triangular cornering window in the shape of a rounded arch that differs from the building’s design.