HSBC Australian loan portfolio sale to Blackstone

In late July 2026 HSBC announced it would sell its Australian home and personal loan book—valued at about A$36 billion (US$25 billion)—to private‑equity firm Blackstone. The transaction, financed by Blackstone’s credit, opportunistic and real‑estate debt funds, is slated to close in the first half of 2027 pending regulatory approval, with Pepper Money taking over loan servicing. The sale is part of HSBC’s broader plan to exit retail banking in Australia while retaining its corporate and wealth‑management operations.

A few days later, data from Cotality’s Home Value Index showed Australian house prices falling 0.7% in July, the steepest monthly decline since December 2022. The price drop was most pronounced in Sydney and Melbourne and was linked to supply‑demand imbalances and recent budget policy changes. The report also noted that Blackstone had secured A$36 billion in financing from ANZ and NAB to complete the HSBC loan‑portfolio purchase, underscoring the financial sector’s response to the housing‑market slowdown.

Together, the snapshots trace the announcement, financing and market context of HSBC’s exit from Australian retail lending and Blackstone’s acquisition of the loan portfolio.