Most banks have "failed miserably" in their efforts to sell mutual funds, a top Dreyfus Corp. executive said in an interview Tuesday.

Elie M. Genadry, president of Dreyfus' institutional services division, said last year's sharp drop in mutual fund sales at banks owed much to the industry's failure to develop a strong sales culture. He estimated that 1994 fund sales by banks fell 40% to 50% from 1993's levels.

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