The Individuals' Deposit Guarantee Fund is investigating into the removal of assets from bank Boguslav, Fund Head Kostiantyn Vorushylin has said.

"We are working on bank Boguslav. We recorded the splitting [of deposits] and removal of assets. The interbank market was used and government domestic loan bonds were used as collateral. Some transactions raise the questions," he said at a briefing in Kyiv on Tuesday.

Vorushylin said that after splitting the deposits the total burden on the Deposit Guarantee Fund in paying the guaranteed sum to depositors of the bank grew by 15-20%.

As reported, the National Bank of Ukraine (NBU) declared PJSC Bank Boguslav (Kyiv) insolvent on November 6, 2017.

According to the fund, as of October 1, 2017, 96% (5,600 people) of depositors of bank Boguslav received their deposits in full amount, as their size does not exceed the sum guaranteed by the fund (UAH 200,000).

The total amount of guaranteed payment will be about UAH 178 million.

As of November 1, 2017, the holders of large stakes in the bank were Volodymyr Romanenko (76.5343%) and Natalia Vakulenko (23.4657%).

The bank ranked 58th among 88 operating banks as of July 1, 2017, in terms of total assets worth UAH 747.385 million, according to the NBU.