Bank Broker-Dealer Productivity Strong In August

NU Online News Service, Oct. 9, 9 a.m. – While the productivity of bank broker-dealers is uncertain for the remainder of the year due to the September calamities, in August all of their productivity measures advanced strongly, the Bank Securities Association, Wayne, Penn., reports.

Broker productivity in banks increased to $27,901, from $23,638 in July, while licensed banker productivity advanced to $3,462, from $2,441.

BSA's index of bank broker-dealer revenue rose to from 120 in July to 144, based on a benchmark of 100 set in 1998. Meanwhile, sales of long-term mutual funds increased by 5.5%.