It was built in 1928 after plans and designs of the architect Zoumboulidis who gave it a "Post-Byzantine" style. The edifice was built on the same grounds the old Othoman Government House was standing before the 1926 fire that destroyed it. It has a particularly interesting structure as seen at its ground-plan and facets. Engaging are also the well cared details and the expensive materials used.

In 1928, the National Bank of Greece built the current building, that between 1930 and 1950 was housing the local NBG branch in the ground-floor and its Director?s residence upstairs. After 1950, the NBG incorporated with Athens Bank and was relocated to another building in Anexartisias Street.

In 1960, the NBG offered it for the housing of the Zosimiaia Library in the ground-floor, while the upper floor was reserved for the King whenever he was visiting Ioannina. Later on, this upper floor was given to the City of Ioannina and when the Zosimiaia Library moved out to its permanent building, the ground-floor started being used as an exhibition hall.

In 1998, restoration, conservation and reconstruction works took place at the building, with the City?s expenses.