HSBC closes Australian retail banking business
HSBC said it will close its Australian retail banking business after a review, as part of group simplification. The bank will exit consumer and retail lending, shut branches over 18 months, and phase out accounts and credit cards, with no new retail applications from July 31, 2026. HSBC will sell its $36bn home and personal loan portfolio to Blackstone, and Pepper Money will service mortgages and loans.





