Banks increased their 2005 insurance brokerage fee income by 8.4 percent to a record $3.93 billion, a study by a bank insurance consulting firm has found.
A total of 47.7 percent of the banks in the U.S. engaged in activities that produced brokerage fee income according to The 2006 Bank Insurance & Investment Fee Income Report published by Michael White Associates
New York-based Citibank, N.A., Charlotte, N.C.-based Branch Banking and Trust Company and Wilmington, Del.-based MBNA America Bank topped the list of top insurance fee producing banks.
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