Trust Updates Archive

20070508--TRN, BofA Revenue Grows by Nearly $2 Billion in First Half of 2007

(September 20, 2007--Chicago, IL)
--While asset growth among fiduciary institutions remains respectable, especially among the largest institutions, the story continues to be double-digit growth in fiduciary revenue, Trust Performance Report's analysis of second quarter 2006 data finds.

Gross fiduciary revenue in the first six months of 2007 was 10 percent higher, on average, than for the same period in 2006--or $1.9 billion higher. In percent terms, results are lower than those reported in the first half of 2005 and 2006, however, earnings in 2007 are more uniform across peer groups. The strongest earnings were among mid-tier institutions. Mid-tier institutions appear to be reaping the benefit of their strong spike in managed assets in 2005 and 2006.

The revenue trend is expected to continue through 2007, making this the sixth year of strong revenue growth. While total account growth was mixed, average growth in managed accounts was a healthy 3 percent in the first half of 2007. The largest growth was reported by peer group 2 institutions, assets between $10 billion and $100 billion--6 percent. Following close behind was peer group 3, assets between $1 billion and $10 billion, reporting 5 percent. The largest institutions, those with assets over $100 million, saw less than 1 percent growth in managed assets..

For more on this topic, see the current issue of Trust Performance Report.
(TPR is a sister publication of TRN. For more information on TPR 2007
go to

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