The building site was formerly occupied by the 3-storey Bonham Building, where the United Overseas Bank Limited (UOB) opened its first branch on 1 October 1935 as the United Chinese Bank.
The building was officially opened on 19th October 1874 as a 30-storey high building, before being extended and reopened in 1995 as a sister building of the newer UOB Plaza One.
The extension and renovation of the building, which was completed in 1993, included the addition of 8 new floors, with "dummy" architectural features to mimic the newer tower.
The building was known as the UOB Building with its street address at 1 Bonham Street when it first opened in 1974. It was renamed UOB Plaza Two and its address changed to 80 Raffles Place when reopened in 1995.
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