NU Online News Service, Sept. 20, 2004, 4:22 p.m. EDT
Bank-based brokers are reporting a 21% drop in productivity for July.[@@]
Brokers who work in banks watched their average production fall to $19,150 that month, from $24,114 in July 2003, according to the Bank Insurance & Securities Association, Wayne, Pa.
The productivity of licensed bankers fell to $1,636 in July, from $1,782 in the comparable month in 2003.
Despite the drops in banker and broker production, another indicator, BISA’s bank broker-dealer revenue index, increased to 136, 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.