The closing of the transaction related to the agreement for purchase and sale of shares comprising the sale of 75.50% shares of Tekstil Bankası A.Ş. held by GSD Holding A.Ş. to Industrial and Commercial Bank of China Limited (ICBC) signed on 29 April 2014, completion of the transaction being conditional upon obtaining the necessary regulatory approvals from the relevant regulatory authorities in Turkey and China has been executed between GSD Holding A.Ş. and ICBC on 22 May 2015, the assignment of the shares subject to the agreement to ICBC having been made and entered to the share ledger as of this date. The Extra Ordinary General Assembly Meeting of Tekstil Bankası A.Ş., in which the new members of the board of directors were elected, was held on 22 May 2015. Please click for detailed information.
Tekstil Bankası A.Ş., in accordance with "IFRS 5 Non-current Assets Held for Sale and Discontinued Operations" standard, is classified under discontinued operations in the Group's consolidated IFRS financial statements as from 30 June 2014. The continuing and discontinued operations taken into consideration together, we are operating our banking activities via Tekstil Bankası A.Ş. which is owned by us with a share of 75.50% and GSD Yatırım Bankası A.Ş. which is wholly owned by us. As of 31 December 2014 net profit gained from banking activities is 6.6 million TL with a decrease of 82% according to the previous year, our banking assets are 3.7 billion TL with a decrease of 5%, total credits given by our banks are 2.9 billion TL with a decrease of 2%, customer deposits are 2.3 billion TL with a decrease of 7% according to the previous year-end.