A History of Vancouver’s Banks

Vancouver banks
Vancouver’s Bank of Toronto, circa 1919.

As our transactional economy relocates to the Internet and financial institutions continue to close branches, we remember those banks that once stood as pillars of our community.

The deed to this award-winning building passed between a number of owners before being bestowed to SFU in 1993. Originally marked as a new headquarters for the Union Bank of Canada in 1919, by the time the Somervel-designed project was completed one year later, Union Bank had been acquired by the Bank of Toronto. It went on to become the B.C. head office of the bank in 1955, remaining as such for 29 years before closing its doors in 1984. 


Slideshow: Before and after photos of Vancouver’s grandest banks

In 1987 an architectural charette sought methods of saving the derelict banking hall and, as a result, the building was donated to SFU as an international conference centre. Transforming the crumbling edifice into a first-class centre proved a difficult task for Scott Construction due to the building’s heritage status. While the interior of the property was completely transformed, the exterior limestone, terra-cotta cornice and Edwardian coffered ceilings were preserved. When Russian-born philanthropist Morris Wosk donated $3 million toward the construction, the university acknowledged his contribution by naming the building in his honour.