hsbc australia retail banking

The quick read

What's driving the attention

HSBC is exiting the Australian retail banking market after nearly four decades, impacting customers and local finance.

HSBC has announced its withdrawal from the Australian retail banking sector after nearly 40 years, including closing all branches and selling a $36 billion retail lending portfolio to Blackstone. This significant market exit will affect HSBC customers in Australia, who can expect changes in service as the bank winds down operations.