College-educated Filipinos can look forward to additional employment opportunities at the newly established Philippine back offices of New York, New York-based American International Group Inc. and McLean, Virginia-based Capital One Financial Corp.

“The new business services activities here of both AIG and Capital One will surely help provide well-paying jobs to some of our college graduates who are still out of work,” Pasig City Rep. Roman Romulo, said in a press release from his office.

Romulo is counting on large American corporations to continue to drive jobs creation in the Philippine business process outsourcing (BPO) sector in the months ahead.

Banks’ non-performing
loans hit 7.77%

The combined non-performing loans of thrift, rural and cooperative banks represented 7.77 percent of their total loan portfolio of P568.71 billion at the end of the first quarter this year, the Bangko Sentral ng Pilipinas said in its website.

The figure rose slightly from the 7.61 percent NPL ratio in March 2012 as the banks’ NPLs grew by above ten percent year-on-year vis-à-vis an eight percent rise in TLP during the period.

The banks’ loan loss reserves for said soured loans, meanwhile, stood at 66.52 percent of NPLs in March, up from the 64.60 percent figure posted a year earlier. Provisioning for NPLs is a prudential measure for mitigating potential credit losses.

UAP expo opens today

The United Architects of the Philippines opens today its week-long regional Bacolod Construction Exposition at the Fountain Area of Robinsons Place Bacolod, a press release from the UAP said.

Rodilene Hofilena, BACONEX secretariat head, said the exposition theme is “Building a Better Bacolod”.

It will showcase new, innovative and modern construction materials produced by 26 national and local companies, the press release said.

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