{"id":94608,"date":"2026-07-31T09:56:13","date_gmt":"2026-07-31T09:56:13","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/94608\/"},"modified":"2026-07-31T09:56:13","modified_gmt":"2026-07-31T09:56:13","slug":"hsbc-to-sell-us25b-of-australian-home-loans-to-blackstone-at-a-loss-of-less-than-us100m","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/94608\/","title":{"rendered":"HSBC to sell US$25b of Australian home loans to Blackstone at a loss of less than US$100m"},"content":{"rendered":"<p><a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/hsbc?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">HSBC Holdings<\/a> has agreed to sell its US$25 billion Australian home loan portfolio to a unit of <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/blackstone?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Blackstone<\/a>, 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.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The sale price was based on the portfolio\u2019s value of A$36 billion (US$25 billion) as of the end of January, plus a premium related to changes in interest rates, collections received and costs. The net proceeds will be used for HSBC\u2019s corporate purposes, the filing said.<\/p>\n<p>The remainder of <a rel=\"nofollow noopener\" target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/sc.mp\/2a9v0?utm_source=copy-link&amp;utm_campaign=3290933&amp;utm_medium=share_widget\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\">HSBC Australia\u2019s<\/a> retail business will be wound down in a phased manner over the next 18 months, the lender said in the exchange filing.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cThe disposal follows a strategic review of HSBC Australia\u2019s retail business and forms part of the ongoing simplification of the HSBC Group,\u201d the bank said. \u201cHSBC continues to invest in and grow its corporate and institutional banking franchise across Australia and New Zealand, supporting the banking needs of corporate and institutional clients, as well as its private banking and asset management businesses.\u201d<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Following the completion of the sale, HSBC Australia\u2019s corporate and institutional banking, asset management and private banking businesses in Australia will be consolidated into the Hongkong and Shanghai Banking Corporation Sydney branch.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">HSBC said the restructuring would incur US$300 million in restructuring costs and write-offs. After all transactions and reconstruction, it is estimated that the recycling of foreign exchange reserve losses will amount to US$300 million in 2028.<\/p>\n","protected":false},"excerpt":{"rendered":"HSBC Holdings has agreed to sell its US$25 billion Australian home loan portfolio to a unit of Blackstone,&hellip;\n","protected":false},"author":2,"featured_media":94609,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20667],"tags":[583,11730,38965,40276,40277,40275,9881,39037,20674,8762,24099,15625,40278,40279],"class_list":["post-94608","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hsbc","tag-australia","tag-australian","tag-blackstone","tag-corporate-and-institutional-banking","tag-corporate-purposes","tag-hongkong-and-shanghai-banking-corporation-sydney","tag-hsbc","tag-hsbc-australia","tag-hsbc-holdings","tag-new-zealand","tag-private-banking","tag-retail-business","tag-stock-exchange-filing","tag-virgo-bidco-pty"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117013996007819170","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/94608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=94608"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/94608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/94609"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=94608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=94608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=94608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}