The elegant, eclectic, one-storey building was commissioned in 1899 by the Zala County Central Savings Bank, with rentable commercial premises on the ground floor. (By this time, the institution had already been active, it was founded in 1893 by Dr. István Czinder and Vilmos Varga.) For many decades a department store occupied the ground floor; later the space hosted various functions, including a casino.

After the Second World War, the upper floors were taken over by several organisations, such as the Red Cross and the Patriotic People’s Front. In 1967 the State Farm opened a model grocery store here, and a wine-bar was set up in the cellar named Belfegor after the popular French television miniseries Belphegor, Phantom of the Louvre. Over time, the nickname came to refer to the entire building.

At the end of the 20th century, the property was purchased by a bank, which carried out a full exterior and interior renovation. On the Kossuth Street façade, visitors can view a memorial plaque dedicated to the street’s namesake.