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June Bank Broker Productivity Report Shows 13% Drop

By Staff Writer

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NU Online News Service, Sept. 1, 2004, 12:04 p.m. EDT

Bank-based brokers are reporting a 13% drop in productivity for June.[@@]

Brokers who work in banks watched their average production fall to $21,394 that month, from $24,114 in June 2003, according to the Bank Insurance & Securities Association, Wayne, Pa.

But the productivity of licensed bankers rose to $1,794 in June, from $1,782 in the comparable month in 2003.

Another indicator, BISA’s bank broker-dealer revenue index, increased to 132, up from 126. BISA set the index base at 100 in 1998.

The BISA productivity report is compiled by Kenneth Kehrer Associates, Princeton, N.J. AXA Distributors L.L.C., New York, sponsors the report and a unit of Bank of America Corp., Charlotte, N.C., serves as the co-sponsor.