HSBC agrees to sell AUD 36 billion Australian home, personal loan portfolio to Blackstone funds

HSBC Holdings agreed to sell its Australian home and personal loan portfolio to Blackstone-owned Virgo BidCo.

• Portfolio book value was about AUD 36 billion as of March 31, 2026.
• Consideration starts at AUD 36 billion, settled in cash at closing.
• Closing is targeted for the first half of 2027, subject to regulatory and competition clearances.
• The transaction is expected to result in an immaterial pre-tax loss of less than USD 0.1 billion by the first half of 2027.
• HSBC plans to wind down the rest of its Australia retail business over 18 months and expects USD 0.3 billion in restructuring costs and write-offs.