Business & MoneynewsFrom The Guardian Business

HSBC to close all branches and pull out of Australian retail banking market

Published by The Guardian BusinessPublished via RSS · Original publisher credited

Published 31 Jul 2026, 05:002 min read

HSBC to close all branches and pull out of Australian retail banking market — image supplied by The Guardian Business's feed — Image supplied with the original post by The Guardian Business. The Guardian Business

London-based company to sell local loan portfolio to Blackstone but will continue private and institutional banking services

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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.