HSBC to sell $25.3 billion Australian home loan portfolio to Blackstone

HSBC announced it will sell its A$36 billion Australian home and personal loan portfolio to Blackstone, a move that effectively ends HSBC’s retail banking presence in Australia. The portfolio sale, expected to close in the first half of 2027 pending regulatory and competition approvals, is part of HSBC’s broader strategic review to simplify operations. The rest of HSBC Australia’s retail business will be wound down over the next 18 months. The deal underscores continued private equity appetite for bank-originated loan books and may support Blackstone’s credit investing platform, while signaling further capital and geographic retrenchment by HSBC.