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31.07.26 - 10:36
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HSBC to sell US$25b of Australian home loans to Blackstone at a loss of less than US$100m (SCMP)
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HSBC Holdings has agreed to sell its US$25 billion Australian home loan portfolio to a unit of Blackstone, which is expected to result in an immaterial pre-tax loss of less than US$100 million for the group by the first half of 2027, according to a stock exchange filing on Friday.
The sale price was based on the portfolio's value of A$36 billion (US$25 billion) as at the end of January, plus a premium related to changes in interest rates, collections received, and costs. The net proceeds will be......
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31.07.26 - 07:30
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HSBC to pull out of Australian retail banking market (The Guardian)
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London-based company to sell local loan portfolio to Blackstone, but will continue private and institutional banking servicesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe London-headquartered HSBC is closing all Australian branches over the next 18 months after selling its local mortgage and personal loan portfolio to global asset giant Blackstone.The transaction will end HSBC's decades-long retail presence in Australia, although it will continue to operate private and institutional banking services, the company said on Friday. Continue reading......
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