KIEV, July 18 - Ukraine's Eastern European Fuel and Energy Company, or VETEK, has begun buying into the shareholder capital of the Kiev-based bank Brokbusinessbank, controlled by the brothers Oleksandr and Serhiy Buriak.

The bank is the 17th largest in Ukraine by assets.

"The holding VETEK's entry into the shareholder capital of Brokbusinessbank is a strategically important investment project that will make it possible for the financial institution to become a world player, to segment the market and strengthen the position of its clients," a joint statement from the bank and group says.

The Buriaks will remain stockholders, and Oleksandr will also join the supervisory board as deputy to its chief, who is likely to be the chairman of the VETEK supervisory board Borys Tymonkin. He headed Ukrsotsbank until recently.