First Hawaiian: Guam Business Activity Up 4.12% in First Quarter of 2013

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Guam – The first quarter 2013 First Hawaiian Bank Business Activity Report (BAR) for Guam showed an increase of 4.12 percent in “same store” credit and debit card sales transactions over the first quarter of 2012, according to Laura Dacanay, First Hawaiian Bank senior vice president and region manager for Guam and CNMI. This was the 13th consecutive quarter of overall positive growth.

“Sales volume of nearly $77 million was a record high of any quarter to date,” stated Dacanay. “Eight out of the eleven sectors posted positive gains this first quarter with Hotels and Shipping topping the list with the biggest double digit gains. The modest 4.12 percent increase over 2012 could be in part due to the tax refunds that were released in December of 2011 which may have resulted in overall strong spending in first quarter of 2012.”

The Guam BAR tracks credit and debit card sales activity in 11 different economic sectors including retail, hotel, home improvement, restaurants, and travel activities, among others.

First Hawaiian Bank is a major card processor of debit and credit card sales transactions. In 2012, the bank processed over $4.3 billion worth of credit and debit card sales transactions in Hawaii, U.S. Mainland, Guam and CNMI.

First Hawaiian Bank (www.fhb.com) with assets of some $16.6 billion, was founded in 1858 and is the largest and oldest bank in Hawaii. First Hawaiian Bank has nearly 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.