HSBC to pull out of Australian retail banking market
HSBC is exiting the Australian retail banking market, selling its local mortgage and loan portfolio to Blackstone. The bank will close its 19 branches over the next 18 months but will maintain its private and institutional banking services in the country.
An HSBC sign is displayed outside a Sydney bank branch, which will close as the bank exits the Australian retail market. An HSBC sign is displayed outside a Sydney bank branch, which will close as the bank exits the Australian retail market. HSBC HSBC to pull out of Australian retail banking market London-based company to sell local loan portfolio to Blackstone, but will continue private and institutional banking services
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in