Paraguay President Pedro Alliana said nearly 95% of Ueno Bank customers affected by the bank’s suspension had received their deposits. (Foto: Instagram)
Paraguay’s new president, Pedro Alliana, said Tuesday, November 10, that nearly 95% of savers affected by the Ueno Bank crisis had received the money they held at the institution. He announced the figure in a post on X as the government worked to complete payments following the bank’s suspension.
Alliana said 1.74 million customers had been paid, with a total of $330 million released from the Deposit Guarantee Fund. He said the remaining payments were expected to be completed by Wednesday, November 11, in accordance with legislation approved by Paraguay’s Congress. In his post, Alliana said the government had responded with “facts” by paying nearly 95% of savers and that the remainder would be credited by the following day.
The president also said recovering pension funds deposited at the bank would be a government priority. The issue is of particular concern to public-sector workers and retirees, who fear losing part of the contributions they had kept at the institution. Alliana said the government would continue working until families had recovered the funds and peace of mind they deserved.
Ueno Bank had been Paraguay’s largest digital bank, with about 2.9 million customers—roughly 40% of the country’s population. On November 3, the Central Bank of Paraguay suspended the bank’s operations and ordered a resolution process after finding solvency problems. The bank’s solvency ratio, which indicates its ability to meet financial obligations, was less than half the required minimum. The suspension temporarily left customers unable to access their deposits.
The institution is under investigation over suspicions of asset manipulation and loans to companies linked to its controlling group. Eight executives were arrested, including bank president Juan Gustale and Miguel Vázquez, the bank’s vice president and founder. These matters remain allegations under investigation.
The crisis also became part of Paraguay’s political turmoil. On November 6, the Senate impeached then-President Santiago Peña, who was accused of involvement with the financial institution. The vote was 44 in favor of removing Peña, with one abstention. Peña had requested an additional 72 hours to present his defense, but the request was denied. The Chamber of Deputies opened the impeachment process on November 5, after Peña had submitted a resignation request. Congress called a joint session to consider that request, but no vote took place because there was no quorum. After the Senate approved his removal, then-Vice President Alliana assumed the presidency.
