New chapter for tbi bank as Advent completes acquisition after ECB granted regulatory approval

tbi bank, the fastest-growing challenger bank in Bulgaria and the SEE region, has been officially acquired by Advent International. The transaction, initially announced in April 2025, was finalized today (February 27) after the European Central Bank (ECB) granted regulatory approval in mid-February 2026.

One of the world’s largest and most experienced global private equity investors, Advent has more than EUR €85 billion in assets under management*, and extensive background investing in the business & financial services sector.

“Closing the deal marks an important milestone not only for our organization, but also for the banking sector in the SEE region. Advent’s global experience in financial services will support us in accelerating our growth, further enhancing our products, and continuing to deliver smooth digital banking through our mobile and online platforms,” says Petr Baron, CEO of tbi.

“I would like to sincerely thank Petr Baron for leading the entire process with confidence, transparency, and outstanding professionalism. My gratitude also goes to the entire tbi bank team, who successfully navigated this transaction while continuing to deliver strong business results. This team commitment, in addition to Advent’s support, strengthens my belief in our continuous growth,” says Ariel Hasson, Chairman of the Supervisory Board, tbi bank.

Milan Kulich, Managing Director at Advent, commented: “The completion of the acquisition of tbi bank reinforces Advent’s long-term commitment to Central and Eastern Europe, where we continue to deploy capital by combining deep local insight with global expertise. We look forward to working with Petr, Ariel and their team to further strengthen tbi’s position as a leading technology-driven bank in Southeast Europe.”

Alfred Dersidan, Director at Advent, commented: “This acquisition builds on Advent’s significant expertise of investing in regulated financial institutions and payments companies globally. We believe tbi bank is well positioned for its next phase of growth and we are committed to investing further in its digital capabilities and customer offering.”

With Advent’s support, tbi bank also plans to further strengthen cooperation with its network of 38,000 merchant partner stores across the region, providing customers with even more accessible, transparent, and flexible financial solutions.

tbi bank is a mobile-first challenger bank in Southeast Europe and a regional leader in alternative payment solutions, building an ecosystem by combining financing and shopping to address customers’ needs. It focuses on helping merchants to grow their business as well as providing consumers with financial products and services that make their lives easier. Currently operates in Bulgaria, Romania, and Greece. Through various digital channels and trusted partnerships with over 38,000 merchant stores, tbi has a customer base of 2,7 million clients and issued over 1 million loans in 2025. Its business model and customer-focused approach resulted in becoming one of the most profitable and efficient banks in the region.

Founded in 1984, Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than EUR €85 billion in assets under management* and have made 448 investments across 44 countries.

*Assets under management (AUM) as of September 30, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.