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macroJul 30, 2026, 10:20 PM

HSBC to Sell A$36 Billion Loan Portfolio to Blackstone Unit

HSBC has agreed to sell its Australian home and personal loan portfolio valued at A$36 billion to a Blackstone subsidiary, with completion expected in the first half of 2027.

HSBABX

HSBC will offload an A$36 billion portfolio of Australian home and personal loans to Virgo Bidco Pty Ltd, a company controlled by Blackstone. The disposal is expected to result in an immaterial loss for the HSBC Group, according to sources.

The transaction, which places a sizable pool of consumer debt onto Blackstone’s balance sheet, is slated to close in the first half of 2027. The move aligns with HSBC’s ongoing strategic pivot away from non-core retail banking markets.

Neither HSBC nor Blackstone immediately commented on the deal terms beyond the disclosed value and timeline.

Source: First Squawk