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Stock impact report

HSBC Refines Australia Exit Strategy With Focus on Loan Portfolio Sale [Yahoo! Finance]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: Yahoo! Finance
Instead of selling the entire unit in one transaction, the bank is now prioritizing the sale of its loan portfolio. The news was first reported by The Australian. First-round non-binding bids are expected by late April, signaling renewed momentum in the process. HSBC's local operations include a $26-billion loan book alongside $16 billion in deposits, with retail banking, such as mortgages and credit cards, contributing 65% of activity. The divestment strategy resembles HSBC's earlier exit from New Zealand, wherein a phased approach was adopted. Major players likely to participate include Apollo Global Management, Cerberus Capital Management and Ares Capital Management — all experienced in acquiring loan assets. This interest mirrors previous transactions in Australia's lending space. Cerberus acquired Westpac's auto loan business in 2021, while Pepper Money, backed by KKR and Pimco, purchased Westpac's $21.4-billion Rams portfolio. Move Aligns With HSBC's Global Restructuri Show less Read more
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