Mon, 03 Aug 2026 06:40:09 GMT
HSBC Exits Australian Retail Banking
HSBC is shutting down its Australian retail banking operations and closing all 19 branches over the next 18 months, following the sale of its $36 billion mortgage and personal loan portfolio to Blackstone. The non-bank lender Pepper Money will manage the acquired loan book, while HSBC shifts its local strategy entirely toward corporate, private, and institutional banking. The exit marks the