The passage was integrated into the extension of the Živnostenska banka in 1935-1942. At the time of construction, the bank was the strongest and most important bank in Czechoslovakia.The city of Prague urged on the one hand, that the building should be completed as soon as possible, and on the other hand, that it has to have a passage to provide pedestrians a shorter and faster connection between the Old Town of Prague and the main railway station.After the political relations in Czechoslovakia changed dramatically from 1948, the building was used as the Czechoslovak State Bank from 1950. In 1993 it became the home of the Czech National Bank. That is why some people call the passage as the "Passage of the Czech National Bank" (Pasáž České národní banky). One side of the passage features only display windows, making it not very attractive for traders. For this reason, after a renovation in 2016, the passage on this side was reopened as the "Passage of Czech Design" (Pasáž českého designu). It gives artists the opportunity to use the shop windows to present their work.