HSBC is reportedly close to an agreement to sell an Australian lending portfolio worth more than A$30 billion to Blackstone.

The Australian Financial Review reported that Blackstone’s private credit arm is finalising negotiations for the assets, although neither company has publicly confirmed the proposed transaction.

An announcement could come near HSBC’s interim results on 4 August, according to the report.

HSBC’s financial calendar shows that the bank will release its results for the first half of 2026 on that date.

The acquisition would give Blackstone a foothold in Australia’s home lending sector as global private capital firms increase their involvement in bank loan portfolios.

HSBC initially explored a broader disposal involving both Australian loans and deposits before narrowing the sale process to the lending assets, the AFR reported.

Citi and Allens are advising HSBC, while King & Wood Mallesons is working with Blackstone, according to the publication.

The reported adviser appointments have not been publicly confirmed.

The process follows Westpac’s agreement in November 2025 to sell its A$21.4 billion RAMS mortgage portfolio to a consortium involving Pepper Money, KKR and Pimco.

HSBC has been reorganising its Australian operations while undertaking a wider restructuring under Group Chief Executive Georges Elhedery.

The bank has reportedly placed its local retail business under review, reduced parts of its corporate lending activity and changed its Australian leadership structure.

Featured image: Edited by Fintech News Australia, based on image by shamaoonstudio via Magnific