Paraguay Bank Chief Quits as Ueno Is Shut
Paraguay’s central bank took control of ueno bank early on 3 November 2026, and its president, Carlos Carvallo, resigned that afternoon. The post Paraguay Bank Chief Quits as Ueno Is Shut appeared first on The Rio Times .
Paraguay’s central bank has ordered the resolution of digital lender Ueno, citing the bank’s solvency index falling below the required minimum. Ueno, which serves over 3 million customers, had recently sold US$350 million of dollar bonds to international investors. This move comes after credit rating firm Fitch downgraded its outlook to negative and the bank unveiled a US$100 million capital plan.
The central bank prioritizes returning savers’ money within about 15 days, while balances above a certain cap are not covered by the Deposit Guarantee Fund. The government’s state pension fund, which paid benefits through Ueno, assures that benefits will arrive on schedule. The central bank’s president, Carlos Alberto Carvallo, has resigned, citing the need to work without political and media pressure.
The resolution process, expected to commence within 15 days, will determine the fate of Ueno’s dollar bonds and the appointment of a new BCP chief.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
