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Paraguay’s Senate approved requests for information from the Central Bank of Paraguay about Ueno Bank’s operations and expansion, amid questions about public deposits, possible conflicts of interest, and political rivalries involving the institution and Banco Basa.
uenohoracio-cartessantiago-penaA teachers’ strike scheduled for September 17 and 18 in Paraguay challenges the 2027 budget bill, which excludes agreed raises and demands, while senators Blanca Ovelar and Celeste Amarilla disagree over the causes of the education crisis, the results of the 2025 PISA assessment given to 6,507 students, the Ñe’ẽry program, which received US$12 million in 2023, and criticism of teacher training and meritocracy; Amarilla also fears a return of banking crises and mentions Banco Atlas and Ueno, a Paraguayan digital bank.
celeste-amarillablanca-ovelaruenoSantiago Peña said there is no break with Horacio Cartes, attributed criticism to the municipal elections, defended clarifications over a request for information from the Central Bank involving Ueno Bank, and called for continued dialogue with doctors threatening a strike on September 21 and 22.
santiago-penahoracio-cartesuenoParaguay’s Senate sent the Central Bank 31 questions about Ueno Bank’s operations and the oversight it received, including transactions with companies linked to Grupo Vázquez, the sale of a US$35 million loan portfolio and possible corrective measures, with 15 days to respond.
grupo-vazquezgrupo-hendy-s-auenohendylaParaguay’s Congress has begun reviewing the 2027 General National Budget, estimated at G. 166.3 trillion and listing health care among its priorities, while the Senate prepares requests for information from the Central Bank about Ueno Bank and lawmakers negotiate doctors’ salary demands.
uenoantonio-barriosUeno Bank’s solvency ratio could fall from 12.4% to about 6.12% at the end of 2025 if G. 876.7 billion invested in UPay and Wepa were deducted, below the legal minimum of 8% for Tier 1 capital.
uenored-digital-de-procesamiento-sared-digital-saParaguay’s Senate is investigating whether IPS requires beneficiaries, retirees and pensioners to open accounts at Ueno Bank to receive loans, following a complaint of a possible monopoly and the concentration of ₲5.1 trillion in state funds at the institution.
uenoipsrafael-filizzolaUeno Bank reported intangible assets related to software systems for 2025 whose book value is around three times higher than the corresponding assets of nine other major banks in Paraguay combined. The unusual scale of the figure has raised questions within the financial sector. According to opposition lawmaker Mauricio Espínola, the Paraguayan banking association Asoban may also have approached the Central Bank over the matter.
uenoittibanco-nacional-de-fomentobanco-central-del-paraguayitauUeno Bank, which is controlled by a former business partner of President Santiago Peña, held twice its net worth in public funds in June, a value that exceeds legal limits. Meanwhile, the Social Security Institute (IPS) has not fulfilled its promise to withdraw the deposits, and the bank is still settling a heavy debt inherited from the defunct Visión Banco.
uenoipssantiago-penaThe IPS, the largest holder of public funds in the Paraguayan banking system, is considering investing abroad after reaching its legal investment limit in the sector.
ipsmefuenoisaias-fretesThe IPS, Paraguay's social security institute, is facing a multifaceted crisis involving allegations of fund diversion to Ueno Bank, a chronic shortage of medicines, internal turmoil, and pressure from Congress, which is debating an emergency bill.
ipsuenogrupo-vazquez-saesantiago-penaThe Vázquez Group, whose main bank received billions in public deposits from the social security institute IPS, expanded rapidly during the Peña administration, while the bank defends the legality of the operations.
ipssantiago-penaesperanza-martinezuenoNon-performing loans in the Paraguayan banking system are a cause for concern, with the National Development Bank (BNF) leading at 3.16% and Ueno Bank in second place at 2.74%, although the majority of banks maintain over 90% of their loans in the adequate solvency category.
uenoitauConsumer credit in Paraguay grew by 42% through May, reaching G. 35.52 billion, while the International Monetary Fund (IMF) warns of the risks of over-indebtedness, especially among lower-income families.
uenoThe director of Paraguay's social security institute, the IPS, admitted that Ueno Bank exceeds the legal limit for the concentration of pension funds, which an opposition senator called "ridiculous" while calling for an investigation. Meanwhile, President Santiago Peña denied any violation and criticized the public disclosure of the case.
ipsuenosantiago-penasuperintendencia-de-jubilaciones-y-pensionesSenator Rafael Filizzola demanded explanations from IPS president Isaías Fretes over the transfer of billions of guaranis from the social security fund to Ueno bank, which is linked to a former business partner of President Santiago Peña, following the relaxation of rules that reduced financial security requirements for the institution.
ipsuenosantiago-penagrupo-vazquez-saeA group of about 20 heavily armed men simultaneously attacked four financial institutions in Santa Rita, in the Alto Paraná department, using explosives to empty the vaults of two banks, overpowering four police officers, and setting vehicles on fire during their escape. Authorities are investigating the possible involvement of a criminal network made up of Paraguayans and Brazilians, without ruling out the participation of the PCC.
santa-ritagnbuenoalto-paranasanta-rita-cambiosExpo Paraguay ARP 2026 will be held from July 11 to 26 at the Rural fairgrounds in Asunción, featuring around 200 exhibitor companies, a program that includes concerts, a job fair, a cattle show, and gastronomic and artistic activities.
expo-paraguay-arp-2026asociacion-rural-del-paraguaysalon-german-ruiz-aveiropilsenuenoOTP Bank invested USD 47 million in U Holdings, the parent company of ueno bank, becoming the main shareholder with 9.99% and a strategic partner of the Paraguayan digital bank.
otp-bankuenou-holdingsjp-morganParaguayan banks accumulated profits of US$302 million in the first four months of 2026, a 5.8% increase compared to the same period in 2025, led by Banco Continental.
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