HSBC to pull out of Australian retail banking market

London-based company to sell local loan portfolio to Blackstone, but will continue private and institutional banking services Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast The London-headquartered HSBC is closing all Australian branches over the next 18 months after selling its local mortgage and personal loan portfolio to global asset giant Blackstone. The transaction will end HSBC’s decades-long retail presence in Austr...

By Jonathan Barrett Business editor