Balkan Bank, later Bulgarian Credit Bank, was built in 1906 by Spiros Valsamaki, a famous architect from Ruse, at the request of the Bebis brothers.
The originally it was a one-floor building used for warehouses and offices of the grainary company of the brothers. After the unrest in their native Greece, the brothers left Ruse and the estate was bought by Balkan Bank. Founded in 1906 mainly with French and Belgium capitals, the bank financed the establishment of the two biggest factories in Ruse – the leather and the sugar ones. In 1911 a second floor was added to the building, and in 1924 it acquired the present outlook of a three-storey building.
Following the tobacco crisis, the bank closed its foreign deposits, merged with French-Belgium Bank and left the country. Then the Bulgarian Credit Bank moved in the building. After World War II the building was occupied by the Russians and a Russian Club with a restaurant and summer garden was opened in it. The building also housed the famous Buzludza restaurant. In 1964 it accommodated The Teacher’s House and The Cinema Club, while in the former garden a cinema in the open was arranged.
In 2018 the ownership of the building was transferred to the local authorities and reconstruction is pending.