The Individuals' Deposit Guarantee Fund has introduced a temporary administration at Brokbusinessbank (Kyiv), reads a posting on the fund's Web site.

"Under resolution No. 107 on putting public joint-stock company Brokbusinessbank into the category of insolvent banks, which was issued on February 28, 2014, the executive directorate of the Individuals' Deposit Guarantee Fund on February 28 decided to introduce a temporary administration at the bank and appoint the authorized persons of the fund for the temporary administration at the bank," reads the report.

Temporary administration was introduced for three months – from March 3 to June 2, 2014.

Oleksandr Kureny has been appointed the authorized person from the fund.

Brokbusinessbank was founded in 1991. According to the bank, on January 1, 2014 Oleksandr Buriak owned 9.3961% of its shares, and Serhiy Buriak 9.3962%. VETEK said that it owned 40% in the bank.

According to the National Bank of Ukraine, on January 1, 2014 Brokbusinessbank ranked 16th in terms of total assets (UAH 28.914 billion) among the 178 banks operating in Ukraine.