Business briefs

Advertiser Staff

Bank completes operations sale

Bank of Hawaii, the principal subsidiary of Pacific Century Financial Corp., said yesterday it has completed the sale of its operations in Papua New Guinea and Vanuatu to Australia-based ANZ. The bank also said it expects to complete the sale of its Fiji operations to ANZ by the end of the year.

The approximately $50 million purchase of all three regions includes total assets of about $180 million. The sale is part of Bank of Hawaii's earlier announced strategic plan, which focuses its business on core markets.

New president at credit union

Executive Vice President Deborah Kim has been named president of the Hawaii State Federal Credit Union, the state's largest credit union.

Kim assumes the duties of departing president Peter Leong.

Kim has been the executive vice president since 1992, responsible for the administration and day-to-day operations of the credit union, which has 51,000 members and $500 million in assets.