HSBC Australia’s bankers at Citi face an uphill battle in finding a buyer for the bank’s $20 billion retail deposits, the last remaining frontier of the London-headquartered lender’s local operations.
Two months ago, this column revealed HSBC had given its bankers the green light to offload the deposit book after inking a deal with New York-based global investment giant Blackstone for HSBC’s $36 billion Australian loan book . That deal saw ASX-listed non-bank lender Pepper Money service the loans.
Gift articles to anyone you choose each month when you subscribe.
