First Hawaiian: Guam Business Activity Up 12.95% in Q2

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Guam – The 2012 second quarter First Hawaiian Bank Business Activity Report (BAR) for Guam showed an increase of 12.95 percent in “same store sales” over the second quarter of 2011, according to Laura Dacanay, First Hawaiian Bank senior vice president and region manager, Guam and CNMI.

This follows first quarter growth of 7.83 percent over the year-earlier period and is the second highest quarterly gain since 2010.

“We saw strong gains in both the retail and restaurant sectors which is a good indication consumer confidence is on the rise as a result of a recent tax refund disbursement in December and early June, coupled with higher tourism arrivals year-to-date,” stated Dacanay.  “Nine out of the 10 sectors showed positive increases, with six sectors posting double-digit growth compared to second quarter 2011.”

The Guam BAR tracks sales activity in 10 different economic sectors including retail, hotels, home improvement, restaurants, and travel activities, among others. Beginning with the 2Q 2012 Guam BAR, the shipping sector data was removed due to the departure of a major service provider.

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, U.S. Mainland, Guam and CNMI, an 8.0 percent increase over 2010.

First Hawaiian Bank (www.fhb.com) with assets of some $16.1 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.

           

 

 

FIRST HAWAIIAN BANK
Business Activity Report

2011 to 2012 Comparison*
(Second Quarter 2011 vs. 2012)

%
Industry
2012
2011
Change

Guam
Utilities, Communications
6,802,574
$
5,481,536
$
24.10%
Retail
18,608,306
$
15,156,585
$
22.77%
Restaurants
7,781,803
$
6,469,946
$
20.28%
Supermarkets
3,097,897
$
2,730,666
$
13.45%
Travel Activities
2,163,922
$
1,914,983
$
13.00%
Insurance
3,587,756
$
3,177,078
$
12.93%
Other
6,611,530
$
6,024,237
$
9.75%
Travel Agencies
2,738,422
$
2,525,618
$
8.43%
Hotels
6,741,016
$
6,575,483
$
2.52%
Home Improvement
6,649,693
$
7,299,441
$
-8.90%

Total Sales
64,782,919
$
57,355,574
$
12.95%

* Only includes card sales by the same company, year over year.