Blackstone credit arm nears deal for HSBC’s Australian loan book – report

HSBC is expected to merchantability its Australian indebtedness portfolio, which is worthy much than A$30bn, to the Blackstone's backstage recognition unit, reported Australian Financial Review (AFR).

Sources said the discussions are being handled by the aforesaid Blackstone recognition squad that has provided lending to Firmus, though with a antithetic radical of dealmakers.

King & Wood Mallesons is acting for Blackstone. HSBC is being advised by Citi and Allens.

Westpac's disposal of its RAMS location indebtedness portfolio past twelvemonth drew involvement from KKR, Apollo Global Management and Cerberus. KKR besides holds stakes successful non-bank lenders Pepper Money and Latitude Financial.

The aforesaid names person besides featured successful the process for HSBC's portfolio, arsenic antecedently reported by this column.

Earlier this year, Citi began a caller auction for HSBC Australia's indebtedness publication aft the bank's London office opted to constrictive the scope of the sale.

Previous efforts to merchantability the afloat Australian business, including some loans and deposits, to National Australia Bank oregon Macquarie did not proceed.

HSBC is carrying retired a wide planetary reorganisation nether main enforcement Georges Elhedery, who took the relation past September.

In Australia, that has led to 3 important steps: the retail slope was enactment up for sale, firm lending was reduced, and the section absorption operation was changed by combining the main enforcement and caput of banking positions.

The bank's Australian lending operations are present divided into 3 areas: indebtedness superior markets nether Andrew Duncan; structured concern nether Visweswara; and leveraged and acquisition concern nether Michael Rossiter.

In June, Bloomberg, citing sources, reported that Emirates NBD is successful talks to bargain HSBC's operations successful Türkiye.

In May this year, OCBC Indonesia signed a woody with PT Bank HSBC Indonesia to presume the assets and liabilities connected to HSBC Indonesia's retail banking and wealthiness absorption operations there, known arsenic International Wealth and Premier Banking (IWPB Indonesia).

HSBC's Sri Lanka subdivision signed a binding statement successful September 2025, to transportation its retail banking operations to Nations Trust Bank (NTB).

In July 2025, HSBC disclosed its program to retreat from its International Wealth and Premier Banking (Retail Banking) operations successful Bangladesh.

"Blackstone recognition limb nears woody for HSBC's Australian indebtedness publication – report" was primitively created and published by Retail Banker International, a GlobalData owned brand.