Coutts, the Royal Bank of Scotland-owned wealth division, has pulled out of more than 100 countries since announcing a strategic plan in 2011 to refocus only on certain markets, according to the UK bank’s annual results published this morning.

RBS said in 2011 that it wanted to strengthen its presence in the UK and focus future investments in growth in core, profitable countries, exiting some markets where it does not have a physical presence or an adequate market share. It most recently sold its Latin American, Caribbean and African businesses, which represented 2% of its total assets, to RBC Wealth Management business in a March deal.