“Within the GCC, we see increasing concentration, with the large banks accounting for a significant proportion of domestic activity. In Bahrain, Kuwait, Saudi Arabia and the UAE, two banks account for at least half of aggregate shareholders’ equity of all commercial banks in those countries. QNB alone has half the Qatari market and Bank Muscat about 40 percent.” Stable, if lacking excitement: the outlook for Gulf banks [Arabian Gulf Business Insight]