Revenue from sales of mutual funds in banks fell more than 27 percent from the third quarter of 2000 to the last quarter of the year.
Banks averaged $436 in revenue per million dollars of retail deposits during the period compared to $601 in the third quarter of the year, according to the Kehrer-Equitable Distributors Monthly Bank Investment Services Monitor. Performance for the period also lagged behind fourth quarter 1999 revenues, which were $545 per million. That represented a 20 percent reduction. The report is based on data from 24 banks participating in the survey.