The Department was established in 1965  as a junior college with a student strength of more than 300 students.

The Department of Commerce was started in 1978 with the B.Com course .This is the first undergraduate course started in St. Paul’s College, Kalamassery. The Department was upgraded to the Post Graduate Department in the year 2001 with the introduction of M.Com Finance. Department was further awarded with one more course under M.G. University in the year 2014 ie B.Com Computer Application.

Now The department offers three undergraduate courses in Commerce with ‘Finance and Taxation’ and ‘Computer Applications’ as specialisation. It also offers the postgraduate course in Commerce with ‘Finance’ as specialisation. 

The department has consistently bagged 100 percent pass in the university examinations for the last few years for their B.Com programme. Social outreach and public interaction programme is part and parcel of the departmental activities .Now Department of Commerce is the Research department of KUFOS and MG University.Today, it is ranked as one among the top Commerce departments in Kerala.