HSBC is seeking a buyer for its Australian retail banking arm, The Australian reports.
HSBC had A$37 billion in assets and A$38 billion in deposits at May 2025, APRA data shows.
Its mortgage book was $33 billion.
The Australian entity earned a profit of US$609 million in 2024, the HSBC annual report shows.
Of this, US$141 million was attributed to wealth and personal banking and US$378 million to commercial banking.
Most of the major banks are likely to take a look at HSBC’s Australian business, with either ANZ or NAB ranked early favourites.
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The Australian reports HSBC is believed to be just days away from releasing documents into the market for the sale of its Australian retail banking arm.