EC approves US Advent International’s acquisition of TBI Bank of Bulgaria
The European Commission (EC) said on August 12 that it had approved, under the EU Merger Regulation, the acquisition of sole control of TBI Bank EAD of Bulgaria by Advent International L.P. of the US.
The transaction relates primarily to the banking sector in Bulgaria, Greece and Romania, the statement said.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction, the EC said.
The notified transaction was examined under the simplified merger review procedure.
Advent, a leading global private equity investor, announced in April 2025 that it has signed a definitive agreement to acquire tbi bank (“tbi”), a leading tech-led challenger bank in Southeast Europe and regional leader in payment plan solutions.
Terms of the transaction were not disclosed.
“Currently operating in Bulgaria, Romania, and Greece, tbi is building an ecosystem by combining financing and shopping to address customers’ needs,” Advent said in its April media statement.
“Through various digital channels and trusted partnerships with over 32 000 merchant partner check-out points, tbi has a customer base of over 2.4 million and nearly 1 000 000 loans issued in 2024. Its digital-first business model and customer-focused approach has resulted in tbi becoming one of the leading and fastest growing challenger banks in the region.”
Advent’s statement said that it has developed significant expertise and track record investing in consumer-facing banks and financial institutions, including in the region.
Prior and current Advent investments include Nubank, the largest independent digital bank in the world, Addiko Bank, a consumer and SME specialist bank active across Central and Southeast Europe, KreditBee, one of India’s leading consumer finance platforms, Aareal Bank, a leading provider of financing solutions and services, with a focus on the property industry, and YES Bank, the 6th largest private bank in India.
Advent also executed multiple investments in Bulgaria and Romania, the core tbi markets, the statement said.
TBI Bank said on June 10 2025 that its consolidated unaudited financial results for the first quarter of 2025 show a net profit of 14 million euro, 22 per cent higher than the 11.6 million euro profit achieved for the same period of last year.
“During this period, we serviced more than 575 000 loan applications (12% growth YoY) and disbursed loans in the amount of 300 million euro (17% YoY increase) in our core markets of operation – Bulgaria, Romania and Greece,” the bank said.
