Business Activity at Guam’s First Hawaiian Bank Up 6.73% in Q4 2011

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Guam – The fourth quarter First Hawaiian Bank Business Activity Report (BAR) for Guam showed an increase of 6.73 percent in “same store sales” over the comparable period of 2010, according to Laura Dacanay, First Hawaiian Bank senior vice president and region manager, Guam and CNMI.  This follows third quarter growth of 5.67 percent over the year-earlier period.  For all of 2011, business sales increased by 6.49 percent over the previous year with 9 out of 11 sectors in the BAR showing an increase over 2010.

“We are pleased the region’s economy continues to show signs of recovery as reflected in the Guam BAR,” stated Dacanay.  “Spending is a good indication of consumer confidence and any increase in consumer spending is encouraging given the region’s modest economic growth.”

The Guam BAR tracks retail sales activity in 11 different economic sectors including retail, hotels, home improvement, restaurants, shipping and travel activities, among others.

First Hawaiian is a major card processor of debit and credit sales transactions.  In 2011, the bank processed over $4.1 billion worth of credit and debit card sales transactions in Hawaii, Guam and CNMI, an 8.0 percent increase over 2010.

First Hawaiian Bank (www.fhb.com) with assets of some $15.8 billion, was founded in 1858 and is the leading bank in Guam with the largest share of loans and deposits in the region.  First Hawaiian Bank has over 7,500 merchant locations throughout Hawaii, U.S. Mainland, Guam and CNMI and processes all major U.S. credit cards as well as JCB, China Union Pay and BC Global.