Paraguay Bank Failure
The headquarters of Ueno bank, a major digital lender stands in Asuncion, Paraguay, after the nation's Central Bank seized it due to its solvency ratio, Tuesday, Nov. 3, 2026.
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Paraguay’s central bank has seized a major digital bank with ties to President Santiago Peña. The takeover Tuesday came after regulators found Ueno’s financial cushion against losses had fallen far below the legal minimum. The bank says it has about 3 million customers and manages up to $850 million in public money including pension funds. Authorities say a guarantee fund will protect smaller deposits. But larger balances remain uncertain. The intervention deepens a scandal over the president’s business connections and the bank’s loans to companies linked to its owners. Peña and the bank deny wrongdoing.