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- First Hawaiian Bank Business Activity Report Indicates Sales Trending Down in 2011
First Hawaiian Bank Business Activity Report Third Quarter 2011
INDICATES SALES TRENDING DOWN IN 2011
(Honolulu, Hawaii October 16, 2011) – The third quarter First Hawaiian Bank Business Activity Report (BAR) reflected an increase of 7.5 percent in “same store sales” over the third quarter of 2010. This follows second quarter growth of 8 percent and first quarter growth of 10.17 percent, according to Keith Nagata, senior vice president and Business Services Division Manager.
“While we are encouraged by these continued healthy results, we are beginning to see a slowing of sales growth,” Nagata said.
The BAR tracks retail sales activity in 16 different economic sectors including automobile, retail, hotels, home improvement, restaurants, shipping and travel, among others. First Hawaiian Bank has over 7500 merchant locations throughout Hawaii, Guam and CNMI and therefore is able to provide a broad measure of economic activity.
First Hawaiian is the largest local processor of merchant services. In 2010, the bank processed over $3.8 billion worth of credit and debit card sales transactions, more than any other local financial institution.
First Hawaiian Bank, with assets of more than $15 billion, was founded in 1858 and is Hawaii’s oldest and largest financial institution. The bank processes all major U.S. credit cards as well as JCB, BC Global and China Union Pay.
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