Guam – (Thurs. Oct. 23) – The 2013 third quarter First Hawaiian Bank Business Activity Report (BAR) for Guam showed a decline of 1.20 percent in “same store sales” over the third quarter of 2012, according to Laura Dacanay, First Hawaiian Bank senior vice president and Guam/CNMI region manager.
“Seven of the 11 sectors showed positive gains and the top three industry sectors to post the largest gains this quarter were Utilities 17.67 percent, Shipping 16.50 percent and Supermarkets 10.22 percent,” stated Dacanay. “The double digit decline in Retail and Travel agencies were likely the result of the weakening Yen, which made it more expensive for the Japanese visitors.”
The Guam BAR tracks sales activity in 11 different economic sectors including retail, hotels, home improvement, restaurants, and travel activities, among others. First Hawaiian Bank has over 7,000 merchant locations throughout Hawaii, U.S. Mainland, Guam and CNMI and therefore is able to provide a broad measure of economic activity.
First Hawaiian is a processor of debit and credit card sales transactions for all major U.S. credit cards as well as JCB, China Union Pay and BC Global. In 2012, the bank processed over $4.3 billion worth of credit and debit card sales transactions.
First Hawaiian Bank (www.fhb.com) with assets of $16.7 billion, was founded in 1858 and is the leading bank in Guam with the largest share of loans and deposits in the region