In 1998 Banski Dvor officially became a public cultural institution and nowadays is the most important cultural center of the city of Banja Luka and the Serb Republic with of thousand of visitors per year. Every year it holds hundreds of events, notable for their high number and variety: concerts, exhibitions of local and foreign artists, book presentations, roundtables and it cooperates with the realizations of important happenings and festivals of the city. Until the reconstruction of the Palace of Republika Srpska, in 2008, it served as the seat of the President of Republika Srpska of Bosnia.