History
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History

GSD Holding A.Ş. was established with the title GSD Giyim Sanayicileri Dış Ticaret A.Ş. (GSD Textile Manufacturers Foreign Trade Inc.) on 8 October 1986 by the initiatives of 96 clothing manufacturers.The Company title was changed as GSD Dış Ticaret A.Ş. (GSD Foreign Trade Inc.) on 25 November 1988 and as GSD Holding A.Ş. on 21 November 1996.

GSD Group determines its main development area as banking with GSD Bank, factoring services with GSD Factoring, maritime sector with GSD Marin and its subsidiaries established in Malta. Also, aware of its social responsibilities, the GSD Group is active in philanthropic activities through GSD Educational Foundation building schools across the country. GSD Holding A.Ş. has sold its 75.50% shares in Tekstil Bankası A.Ş., in which GSD Holding A.Ş. acquired an initial shareholding of 30% in 1992 and the controlling stake as at 2 January 2002, to Industrial and Commercial Bank of China Limited (ICBC) on 22 May 2015.  

The GSD Group's growth strategy is based on providing financial and other support services to commercial activity, rather than competing in industrial production. It has adopted a prudent management approach, giving priority to growth by equity rather than through borrowing. Therefore, sustainable profitability is the main pillar of the Group's investment strategy.

GSD Holding is responsible for establishing major operational guidelines and setting the standards for enterprise risk management and corporate governance. It is a strong advocate of the concepts of customer focus and higher service quality in all business lines. This philosophy is effectively communicated to all its subsidiaries and affiliates and unwavering adherence to these tenets is expected from all Group companies and staff members.

Maximizing shareholders' value has always been an indispensable goal for the GSD Group. GSD Holding believes that maintaining a satisfactory return on equity is the real measure of its performance. Nearly all of GSD Holding shares have been publicly traded on Borsa Istanbul (BIST) (formerly named as Istanbul Stock Exchange (ISE)) since 1999, which makes GSD Holding a truly public company.