The palace was built as a new headquarters for Romania’s oldest bank, the public savings institution, Casa de Depuneri, Consemnațiuni și Economie, later known as C.E.C. and nowadays CEC Bank.

Work started on June 8, 1897, under the careful supervision of King Carol 1 and Queen Elisabeth, who laid the foundation stone. The project was designed by the architect Paul Gottereau, a graduate of the École Nationale Supérieure des Beaux-Arts in Paris. Construction was supervised by the Romanian architect Ion Socolescu.

The architectural style that characterizes the building is eclecticism – a style that combines elements from various styles in a single work. This is a term that perfectly defined the stylistic variety of 19th century architecture.

In addition to the well-defined style, certain Renaissance influences were also used. Among these renaissance elements we can talk about the clear geometric shapes used for interior design with natural stone mosaics – and the perfect circle shape that defined the massive central dome – for a long time it was the largest in the country.

Also in the Renaissance style, composite style columns were used as construction elements, white marble stairs with gray veins, massive chandeliers and wall paintings. The palace is mostly made of local materials – massive stone and marble from Dobrogea. The main dome is made of glass and metal and is the last crown that ends the impressive building.

Impressive by its proportions and elegance, the building has a monumental entrance, defined by a semicircular pediment, supported by those composite style columns.