StanChart Considers Boosting Real Estate Exposure as Rivals Exit
- CEO comments point to a contrarian bet on property-linked debt
- EM-focused lender has been stung by China property meltdown
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Even as many banks seek to trim their exposure to real estate globally, Standard Chartered Plc has signaled it could expand its presence in the market as it spies opportunities in the wake of the withdrawal of other players.
Despite having been stung by the collapse in property values in China, the emerging markets-focused bank said it could look to build its exposure to Western real estate in the coming months. Chief Executive Officer Bill Winters acknowledged the hit the bank had taken on Chinese property, but said that the lender was “quite underweight commercial real estate in other markets.”