UPDATE 1-Raymond James reports slightly higher Aug commissions

Wed Sep 22, 2010 4:58pm EDT

* Aug commissions and fees up 3 pct from July

* Says backlog of deals going into Sept "encouraging"

* Says bank loan activity has accelerated

Sept 22 (Reuters) - Raymond James Financial Inc (RJF.N) reported a slight increase in commissions and fees in August from the prior month, and said backlog of deals going into September was encouraging.

The investment bank and brokerage, based in St. Petersburg, Florida, reported August commissions and fees of $158.5 million, compared with $153.3 million in July.

Raymond James, which also operates the fourth-largest bank in Florida by total assets, said the bank's loan activity had accelerated from recent levels, bucking a trend among banks in the United States.

U.S. banks are struggling to boost their loan books amidst anemic loan demand, which is beginning to pressure their margins. [ID:nN14247904].

Shares of the company, which have risen 9 percent month-to-date, closed down 3 percent at $24.49 Wednesday on the New York Stock Exchange. (Reporting by Jochelle Mendonca in Bangalore; Editing by Gopakumar Warrier)


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