The bank’s collapse severely affects thousands of retirees and users across the country.
On Thursday, Paraguayan President Santiago Peña resigned amid a crisis triggered by the intervention of Ueno Bank, which led to strong political and financial criticism.
RELATED: Paraguayan Deputies Seek Peña’s Impeachment Over Ueno Bank Collapse
The resignation came while the Chamber of Deputies debated impeachment proceedings against him. Despite the resignation, legislators voted to continue with the process, which was initiated by sectors of the opposition and members of his own party.
In a public statement, Peña affirmed that he was leaving office to “preserve” institutional stability, social peace, and confidence in the Paraguayan democratic system.
The president also expressed his “concern” for the nearly three million customers affected by the Ueno Bank intervention and said his priority was to “guarantee” the protection of savings and the public funds involved.
The crisis began when the Central Bank of Paraguay intervened in Ueno Bank after detecting solvency problems that reduced its capital below the levels required by regulations.
Mensaje del Presidente de la República, Santiago Peña, al pueblo paraguayo. pic.twitter.com/RBz6IfFV9L
— Santiago Peña (@SantiPenap) November 5, 2026
The bank’s operational collapse affected services such as transfers, cards, and digital applications, and jeopardized payments that benefited thousands of retirees and users across the country.
Those pushing for impeachment accused Peña of favoring Ueno Bank due to his previous business ties with the group. The now-former president maintained shareholdings related to the financial group after assuming the presidency in 2023.
The political crisis worsened when former President Horacio Cartes, leader of the Colorado Party and Peña’s main political mentor, publicly endorsed the opening of impeachment proceedings.
According to the Paraguayan Constitution, Vice President Pedro Alliana will assume the presidency and complete the presidential term, which is scheduled to end in 2028.
Hundreds of depositors and retirees took to the streets of Asuncion to demand the return of their savings following the intervention of Ueno Bank. 🇵🇾📉
Protesters clashed with police outside Paraguay’s National Congress after the Central Bank stepped in to dissolve the troubled… pic.twitter.com/Qrn1UPv7dg
— teleSUR English (@telesurenglish) November 5, 2026
teleSUR: JP
Source: BBC
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