HSBC Sells A$36B Loan Portfolio To Blackstone
HSBC sells Australian loan portfolio
Disposal Expected To Generate An Immaterial Loss For HSBC Group - Sale To Virgo BidCo Pty Ltd Expected To Complete In H1 2027 - Remaining HSBC Australia Retail Business To Be Wound Down Over The Next 18 Months - Expects To Recycle Around $0.3B Of Foreign Currency Translation Reserve Losses To Income Statement - Net Proceeds To Be Used For General Corporate Purposes