BSA: Bank Investment Sales Up

NU Online News Service, April 5, 2:25 p.m. – Sales of investment products through banks stayed well above year-ago levels in February, despite being down slightly from strong January levels, the Bank Securities Association, Wayne, Pa., says.

Broker productivity in February averaged $23,749, down 2.3% from January's $24,304 level but 15% ahead of the level recorded a year earlier, BSA reports. Licensed banker productivity was $2,591, down 11% from January's $2,912, but up 30% from a year earlier.

BSA's bank broker/dealer revenue index fell to 117 from January's 127, a decline of 7.9%. The index is based on a benchmark of 100 set in 1998.