 NBI was the first bank in British Somaliland and was the banker to the colonial government until the State of Somaliland (the former British Somaliland) joined the Trust Territory of Somalia (the former Italian Somaliland) to form the Somali Republic in 1960.After the union, National and Grindlays opened a branch in Mogadishu.In 1940, there were five local bank branches in Italian Somaliland.