The Charatered Bank of India, Australia & China was one of the Great British Colonial bankers in Asia. The Rangoon Branch was established in 1858. Located in the heart of the financial district of Rangoon , their new building, completed in 1942, replaced earlier offices which were build around 1900.

The mix of modern Art Deco elements combination with Burmese accents, in particular the almost pagoda-like tower, resulted in a bank building with distinct features.