NU Online News Service, Mar. 8, 11:45 a.m. –Bank investment sales broke out of the doldrums in January, according to the Bank Securities Association, Wayne, Pa.
Bank broker productivity increased to $24,304 in January , up 28% from the the December 2001 productivity level, and productivity of licensed bankers increased 40%, to $3,912.
BSA’s Index of Bank Broker/Dealer Revenue rose to 127, from 111.
BSA bases the index on a benchmark figure of 100 for 1998, when broker sales averaged $22,795 and licensed bankers averaged $1,201.
The association has not released figures comparing January 2002 results with January 2001 results, but a report on its Web site shows that bank products averaged $23, 316 in sales per month during the first quarter of 2001, while licensed bankers averaged $1,898 in sales per month.