Built as an Ottoman Bank in the Frangomachalas district, which was full of inns and commercial arcades. It was built on the foundation of Jake Abbott's mansion, which was destroyed after a bombing attack by Bulgarians in 1903. Sultan Abdul Mejid had been a guest at the Abbott mansion in 1858. The sculptures in the courtyard had been transported there from Abbott's country house. The architects Barouh and Amar undertook the reconstruction of the Ottoman Bank. They adopted a Neo-Baroque style with French influences. The building operated as an IKA (Social Insurance Institute) branch and today houses the State Conservatory of Thessaloniki.