Emirates Telecommunication Group Company PJSC (Arabic: مؤسسة الإمارات للاتصالات, Mu'asissat al-'Imārāt lil-'Ittiṣālāt, literally, "Emirates Institute for Communications"), branded trade name Etisalat (Arabic: اتصالات ittiṣālāt, literally "communications"), is a multinational Emirati based telecommunications services provider, currently operating in 15 countries across Asia, the Middle East and Africa. As of February 2014, Etisalat is the 14th largest mobile network operator in the world, with a total customer base of more than 167 million. It is the only net provider in UAE. Etisalat was named the most powerful company in the United Arab Emirates by Forbes Middle East in 2012.On 31 December 2015, Etisalat reported consolidated revenue of AED51.7 billion and net profits of AED8.3 billion. The total market capitalization of the company currently is AED87.7 billion.Etisalat is one of the Internet hubs in the Middle East (AS8966), providing connectivity to other telecommunications operators in the region. It is also the largest carrier of international voice traffic in the Middle East and Africa and the 12th largest voice carrier in the world. As of October 2008, Etisalat has 510 roaming agreements covering 186 countries and enabling BlackBerry, 3G, GPRS and voice roaming. Etisalat operates Points of Presence (PoP) in New York, London, Amsterdam, Frankfurt, Paris and Singapore. In December 2011 Etisalat announced the commercial launch of Etisalat 4G LTE Network.
The National Bank of Kuwait (NBK) was founded in 1952. It is the largest financial institution in Kuwait, with branches and subsidiaries in China, Geneva, London, Paris, New York, and Singapore, and a regional presence across the Middle East in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE.
The group reported a net profit after non-controlling interests of KD 370.7 million compared to KD 322.4 million for 2017, an increase of 15%. Operating profit amounted to KD 606.9 million as compared to KD 557.2 million in 2017, an increase of 8.9%. Net interest income and net income from Islamic financing at KD 690.5 million reflects a 9.8% increase on 2017 (KD 629 million). Net fees and commissions at KD 150.2 million reflects a 8.4% increase on 2017 (KD 138.6 million). Net gains from dealing in foreign currencies amounted to KD 39 million in 2018 as compared to KD 33.7 million in 2017. Operating expenses amounted to KD 276.3 million as compared to KD 265.4 million in 2017. The cost to income ratio for 2018 improved to 31.3% as compared to 32.3% in 2017. Provision charge for credit losses and impairment losses amounted to KD 179.7 million as compared to KD 188.2 million in 2017. The return on average equity at 12% in 2018 compared to 10.8% in 2017.