What executives said about the data-center boom
Manus Costello, the chief financial officer of the London-based bank that focuses on emerging markets, told Bloomberg News the global rush to construct data centers should help Standard Chartered. He said developers in Asia are joining what he called one of the largest investment races in history. Costello added a direct quote: "There's a lot of growth coming, and I think there'll be stronger growth coming out of our footprint in Asia, in particular, in terms of those data centers."
Where the bank stands today
Costello said the expansion in data centers has mostly skipped the bank so far and that financing tied to constructing data centers "was not a huge part" of the lender's balance sheet. He said the bank does have some exposure to data centers, to hyperscalers, and to the broader capital expenditure cycle, and that it is putting investment into its own geographic footprint.
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Market risks and the timing
Building on Bill Winters' warning about "indigestion," Costello pointed to recent shifts in credit spreads as evidence of problems and said, "We've got another couple of months of the year to go." He added, "Who knows where we'll go with that? If this indigestion turns into something worse, maybe there'll be an impact on revenues. If it goes away, maybe there won't."
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