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FHB BUSINESS ACTIVITY REPORT FOR Q3
Saipan sales volume up 9.30 percent
First Hawaiian Bank’s third quarter 2014 Business Activity Report for Saipan showed a 9.30 percent increase for “same store sales” over 2013, according to Laura Dacanay, First Hawaiian Bank senior vice president and CNMI Region Manager.
“This third quarter increase of 9.30 percent marks the 12th consecutive quarter of positive growth for credit and debit card spending in the CNMI area,” said Dacanay. “Eight of the 11 sectors posted double digit increases with Retail leading the way, up 29.19 percent, followed by Home Improvement up 25.57 percent, and Travel Activities up 17.92 percent. This positive growth is good indication that our economy continues to regain momentum.”
The BAR tracks card sales activity in 11 different economic sectors including retail, hotels, home improvement, restaurants, shipping and travel activities, among other categories.
First Hawaiian’s Saipan BAR provides a broad measure of economic activity.
First Hawaiian is a major card processor of debit and credit sales transactions. In 2013, the bank processed over $4.4 billion worth of credit and debit sales transactions. The bank provides merchant services to nearly 7,000 First Hawaiian Bank merchant locations throughout Hawaii, Guam, CNMI and the U.S. mainland.
First Hawaiian Bank with assets of $18.1 billion was founded in 1858 and has been serving the CNMI region for over 16 years. The bank processes all major U.S. credit cards as well as JCB, China Union Pay, and BC Global Card. (FHB)
