A detailed analysis of the indices An and As of geomagnetic activity is made to bring out the nature of the North-South asymmetry in geomagnetic activity. A 10% excess activity in the northern hemisphere is shown to be a real feature for all the years in the epoch . Seasonal variation in the asymmetry exhibits the expected northern summer (winter) maximum for the positive (negative) asymmetry. Equinoxial maxima for marginally positive asymmetry is also shown. A well-defined Universal-Time daily variation is present in the asymmetry when the northern hemisphere is more active.