A vehicular camera monitoring system a driver-side camera, a driver-side video display screen disposed at a driver-side cabin region of an interior cabin of the vehicle, a passenger-side camera and a passenger-side video display screen disposed at a passenger-side cabin region of the interior cabin of the vehicle. During a parking maneuver or parking-space exit maneuver of the vehicle, the driver-side video display screen displays parking assist images derived from image data captured by the driver-side camera and the passenger-side video display screen displays parking assist images derived from image data captured by the passenger-side camera. Upon completion of the parking-space exit maneuver where the vehicle exits a parking space, the driver-side and passenger-side video display screens automatically operate to display driving assist video images derived from image data captured by the respective side camera, with the displayed driving assist video images being different from the displayed parking assist images.