18 Sep 2003

New Bank of Hawaii branch opened on Palau

5:22 am on 18 September 2003

The Bank of Hawaii has opened a new branch in Palau, amidst bank branches closing in neighouring countries.

The new two story branch cost $2 million US dollars.

Branches in the Federated States of Micronesia and the Republic of the Marshall Islands closed due to lack of profits.

The manager for Bank of Hawaii in Palau, Stephen Brock, says having the new bank would help ease investors' minds in the market.