PROFITABILITY DISTRIBUTION I am sometimes asked how large our business
is in each of the territories in which we operate and how much profit we make in each. In certain of these countries we publish, as we have to by law, a local balance sheet and a local profit and loss account. But these figures are not strictly com- parable with those we publish for the Bank as a whole. Moreover, business in one country is often stimulated by or directly caused by business in another country, and the pattern of distribution of our business and our profits does not remain con- stant. Any exact figures country by country would therefore not be meaningful.
Last year 55% of our net profits after tax came from our branches in Asia, and 45% from qur branches in Africa and London. Over 60% of our deposits are in Asia and rather less than 40% in Africa and London. The percentage of our total profits earned in Africa and in London has been growing in recent years.
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