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Ueno 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.
ipsuenoisaias-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.
ipsinstituto-de-prevision-socialuenosantiago-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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