Bank of Montenegro

In existence from 1906 to 1918, it was intended as a bank of issue, but that ambition was never put in practice as the Montenegrin government remained directly in charge of the country's fledgling monetary policy.

[1]: 8 The Bank of Montenegro was established by princely decree of Nikola Petrović-Njegoš on 11 April 1906, at a time when the main currency in circulation in Montenegro was the Austrian krone, complemented by other European currencies.

Due to poor quality, however, the Montenegrin government reverted to minting in Vienna for its next issuance in 1910.

[3] The Bank of Montenegro operated from a house erected by architect Miloš Lepetić in the late 19th century, in a leafy area of Cetinje.

[4] The building was expanded and made more representative of the bank's prominence in 1910, the same year as the establishment of the monarchy.