The Savings Bank of Szeged-Csongrád started operating in the city on October 1, 1845. Architect Lipót Baumhorn was commissioned in 1903 to design the new head office of the central financial institution. Subsequently, construction work began on the building that occupies a prominent place in the cityscape, and it lasted until 1905.
On the ground floor of the side facing Takaréktár street were the offices of the Savings Bank as well as two insurance institutes, shops were set up on the Széchenyi square side, while the courtyard wings and floors were home to apartments.
The two-storey mansion of the Savings Bank shows the influence of Vienna and Berlin Art Nouveau with ornamental decorations in the middle of the square windows: they are embellished with leaf bouquets and garlands. The facade has a variety of head motifs, along with coat of arms shields: the coat of arms of Szeged as well as the counties. The symbolism implying the purpose of the building, the beehive expressing thriftiness and gathering, appears in the surface decoration and in the ornament of the spire. The courtyard façade is framed by yellow brick string courses, and above the second floor there is another a beehive with bees symbolized by bricks of contrasting colour around it. The decorative, semi-circular staircase is embellished with stained-glass windows.
The limestone relief of the tympanum on the Széchényi square side is an allegory of commerce, industry and agriculture. The SzTP letter combination (abbreviation for the Hungarian name of the Szeged Savings Bank, Szegedi Takaréppénztár) can be found in several places in the building: in the pattern of the stone walls of the staircase as well as in the corners between the facades. The artistic wrought iron work was made by György Kónya, a master from Szeged.