Tekstilbank was founded in 1986. GSD Holding stands as the majority shareholder of Tekstilbank with 75.5% stake, while the remaining shares are publicly traded on the Istanbul Stock Exchange (ISE). In 2008, the Bank's paid-in capital was increased to TL 420 million from TL 300 million through 20% rights issue and 20% bonus issue. Tekstilbank is engaged in corporate banking, commercial banking, SME banking and retail banking activities, providing a wide range of financial products and services to its customers in a customer oriented approach, without comprimising quality. Tekstilbank's total loans stood at TL 1,600 billion while total deposits were TL 1,450 billion as of 2009 year-end. Consolidated net income, which was TL 5 million in 2008, surged by 207% in 2009, reaching TL 16 million. The Bank's total shareholders' equity increased by 4% annually, standing at TL 468 million, while capital adequacy ratio came out at a strong 20.8% by the end of 2009. Until 2006, the Bank's primary focus was on commercial and corporate banking. Tekstilbank has had specific emphasis on trade finance activities, especially with the synergy of GSD Foreign Trade. Nevertheless, the Retail Banking Group was formed as a separate business line in January 2006 to provide full retail banking services to clients. Today, Tekstilbank operates through its headquarters in Istanbul and 44 branches as well as Alternative Delivery Channels; internet banking, ATMs and call centre (444 00 50), providing continuous service to its customers. Tekstilbank branches are predominantly located in the western regions of Turkey, which account for the majority of Turkey's GDP generation.