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HSBC to pull out of Australian retail banking market

Trade Hub UK briefing (2026-07-31): Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The London-headquartered HSBC is closing… Primary source: original at Guardian Banking (theguardian.com).

By Guardian Banking

HSBC to pull out of Australian retail banking market

The London-headquartered HSBC is closing all Australian branches over the next 18 months after selling its local mortgage and personal loan portfolio to the 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 announced on Friday.

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Source: Guardian Banking