 In 1968, the Somali Republic's civilian government merged the Somali Credit Bank (Credito Somalo) with the Banca Nazionale Somala.The earlier trusteeship administration had established the Somali Credit Bank in 1954 in the Trust Territory of Somalia.After the bloodless coup d'état of 1969 that saw Mohamed Siad Barre's ascension to power, the government in 1971 nationalized the four foreign banks.