Ueno Bank

UENO Bank S.A.
Formation1976 (Commercial finance)
1981 (CrediCentro)
2021 (as ueno holding SAECA)
2023 (as bank)
TypePublic company
Legal statusSociedad anónima
HeadquartersAsunción, Paraguay
Websiteueno.com.py

UENO Bank S.A., doing business as ueno bank, was a Paraguayan bank headquartered in Asunción. It operated primarily through digital payment platforms and originated from the consolidation of financial institutions with roots dating back to 1976. In November 2023, it obtained a banking license from the Central Bank of Paraguay, and in 2024 it absorbed Visión Banco, significantly expanding its customer base. By June 2026, it reported approximately 2.94 million customers. The institution also maintained sponsorship agreements with major Paraguayan sporting organizations, including the Paraguayan Football Association, as well as cultural and social initiatives.

On November 3, 2026, the Central Bank of Paraguay initiated resolution proceedings for ueno bank after determining that its solvency ratio had fallen below half of the required minimum. The measure restricted customers' access to their deposited funds and was followed by the resignation of Central Bank president Carlos Carvallo, the ordering of arrests of the bank's executives, and the resignation of Paraguayan president Santiago Peña on November 5.

History

Financiera El Comercio, CrediCentro, and ueno holding SAECA (1976–2022)

Financiera El Comercio was founded in 1976.

CrediCentro was founded in 1981 at Mercado 4 by Víctor Hugo Vázquez. On September 6, 2021, in a transaction approved by the Board of Directors of the Central Bank of Paraguay, Grupo Vázquez acquired a 65% stake in Financiera El Comercio. On July 23, 2021, it merged the entity with CrediCentro. Subsequently, on December 20, 2021, El Comercio was renamed ueno holding SAECA.

In 2021, Carlos Carvallo Spalding assumed the role of president of the entity, a position he held until 2023.

ueno bank (2023–2026)

In November 2023, after meeting the requirements of the Central Bank of Paraguay, the entity obtained a license to operate as a bank and adopted the name ueno bank S.A.

In 2024, it acquired Visión Banco, which was integrated into its operational structure. Following this transaction, the institution expanded its customer base and surpassed one million active credit cards.

On August 14, 2025, the institution was the victim of a data leak involving approximately 250,000 customers, with the information published on a dark web forum. The bank's president, Juan Manuel Gustale, denied the veracity of the information and pointed to inconsistencies in the published data. The case was subsequently investigated by the Central Bank of Paraguay.

In December 2025, the entity announced the addition of OTP Bank as a shareholder following an investment of 30 million US dollars.

In March 2026, it issued bonds totaling $350 million on the New York Stock Exchange.

Dissolution (2026)

After merging by absorption with Vision Bank, ueno bank S.A. became the bank with the largest client portfolio in the country. As of June 2026, it reported 2.94 million customers, equivalent to about 63% of the adult population, and was one of the four systemic banks in the country.

The bank also managed public funds. According to Última Hora and other media, at the end of August 2026, it held approximately 4.8 billion Guaraní (850 million dollars) of state money, behind only the National Development Bank. The bank was linked to Ueno Holding, of which Santiago Peña is a shareholder.

In the previous months, the bank was under scrutiny. Bloomberg reported that its bonds were trading below 90 cents amid regulatory surveillance and was preparing measures to bolster its capital. The state and IPS funds in the bank exceeded their effective wealth.

On November 3, 2026, the Central Bank of Paraguay initiated resolution proceedings for ueno bank, after determining that its solvency ratio had fallen below fifty percent (50%) of the required minimum—a result of adjustments made to its financial statements during the regularization process. Consequently, customers of the institution lost access to their deposited funds until further notice, in accordance with Law No. 2334/03. As a result, the president of the Central Bank of Paraguay, Carlos Carvallo, submitted his resignation, while the Public Prosecutor's Office ordered the arrest of the executives of the intervened bank. On November 5 Paraguayan President Santiago Peña resigned.

Sponsorship

Prior to its dissolution, ueno bank maintained sponsorship agreements with companies, clubs, federations, and sporting, cultural, and social events in Paraguay.

Football

ueno bank served as the primary sponsor of the Paraguayan Football Association (APF), with its brand featured in the names of competitions and the Estadio Defensores del Chaco. It also signed agreements with local clubs such as Club Olimpia, Cerro Porteño, Club Guaraní, and Sportivo Luqueño, which included stadium naming rights and the implementation of digital payment systems at events.

Other sports

The bank served as a strategic partner to the Paraguayan Olympic Committee (COP) and as a sponsor of the Paraguayan delegation in international competitions. It also maintained agreements with the National Sports Secretariat (SND) and was presented as the main sponsor of the 2025 Junior Pan American Games, held in Asunción. Furthermore, it sponsored the "Corrida Solidaria" (Solidarity Run) organized by the Dequení Foundation.

Auto racing

It was the main sponsor of the Rally del Paraguay—a round of the World Rally Championship (WRC)—for its 2025 and 2026 editions. The 2025 edition received recognition from the Fédération Internationale de l'Automobile (FIA). Following the bank's dissolution, the rally organizers announced that they would seek a new sponsor. Additionally, it provided direct financial sponsorship to professional Paraguayan racing drivers, including Joshua Dürksen and Diego Domínguez Jr.

Culture and social actions

It maintained partnerships with Aldeas Infantiles SOS Paraguay and the SUMMA Network, focused on children's education and labor inclusion. In the entertainment sector, it entered into a partnership with the production company G5pro.

References

  1. ↑ "ueno bank inicia nueva era bancaria, transformando la experiencia de sus clientes". La Nación. Retrieved 2026-01-14.
  2. ↑ "Ueno bank inicia nueva era bancaria en Paraguay". La Nación. Retrieved 2026-01-14.
  3. ↑ "La Nación / ueno bank recibe premio Platino en Inclusión". La Nación. Retrieved 2026-01-14.
  4. ↑ "ueno bank acelera su apuesta digital y redefine la banca en Paraguay". Forbes Paraguay. Retrieved 2026-01-14.
  5. ↑ "Cuatro décadas de historia y crecimiento". ABC Color. 2016-06-22. Retrieved 2026-04-14.
  6. ↑ "Grupo Vázquez toma control de El Comercio". El Nacional. 2021-09-09. Retrieved 2026-05-03.
  7. ↑ "Gestionan otra fusión en el sistema financiero". ABC Color. 2021-06-18. Retrieved 2026-04-14.
  8. ↑ "Accionistas de financiera avalan fusión por absorción". Última Hora. 2021-07-23. Retrieved 2026-05-03.
  9. ↑ "Ueno Bank: De la usura en el mercado 4 al primer banco digital que acapara dinero del Estado". El Prisma. 11 August 2025. Retrieved 14 April 2026.
  10. ↑ "Futuro titular del BCP apunta a reformas para dinamizar economía". Última Hora. 2023-08-01. Retrieved 2026-01-21.
  11. ↑ "ueno obtiene la licencia bancaria del BCP". Foco La Nación. Retrieved 2026-01-14.
  12. ↑ "Ueno bank hace historia con un millón de tarjetas de crédito activas". La Nación. Retrieved 2026-01-14.
  13. ↑ "Miles de datos privados de un banco de plaza aparecen filtrados en la web". ABC Color. 2025-08-18. Retrieved 2026-04-27.
  14. ↑ "Presidente de ueno asegura que core bancario no fue vulnerado". Última Hora. 2025-08-18. Retrieved 2026-04-27.
  15. ↑ "BCP investiga filtración masiva de datos bancarios de Ueno Bank". El Resumen de Noticias. 2025-08-19. Retrieved 2026-04-27.
  16. ↑ "OTP Bank es nuevo accionista de ueno bank". La Nación. Retrieved 2026-03-12.
  17. ↑ "Ueno emite bonos en Wall Street". Diario Hoy. 2026-03-04. Retrieved 2026-03-12.
  18. ↑ "Ueno bank". The Latin American Lawyer. Retrieved 2026-11-04.
  19. ↑ "Ueno bank alcanza el mejor semestre de su historia". La Nación (Paraguay). 2026-07-23. Retrieved 2026-11-04.
  20. ↑ "Ueno movió US$ 146 millones hacia tres empresas vinculadas". Prensa Mercosur. 2026-10-12. Retrieved 2026-11-04.
  21. ↑ "Casi 28.000 jubilados y pensionados del IPS cobran a través de ueno bank". ABC Color. 2024-10-24. Retrieved 2026-11-04.
  22. ↑ "Banco paraguayo Ueno busca reforzar su capital en medio de caída de bonos y escrutinio regulatorio". Bloomberg Línea. Retrieved 2026-11-04.
  23. ↑ "Ueno Bank captura otros US$ 52 millones del Estado en un solo mes". ABC Color. 2026-08-20. Retrieved 2026-11-04.
  24. ↑ "Banco Central inicia el procedimiento de resolución de ueno bank". Banco Central del Paraguay. Retrieved 2026-11-03.
  25. ↑ "Ueno Bank: el BCP anuncia "procedimiento de resolución"". ABC Color. Retrieved 2026-11-03.
  26. ↑ "El presidente del emisor paraguayo renuncia en medio de intervención a banco local". Infobae. 2026-11-03. Retrieved 2026-11-03.
  27. ↑ ISABEL DEBRE; EMILIO SANABRIA (November 5, 2026). "Paraguayan president impeached minutes after resigning following bank collapse". AP.
  28. ↑ "APF presentó nuevo sponsor principal del fútbol paraguayo". Agencia de Información Paraguaya. 3 August 2023. Retrieved 14 January 2026.
  29. ↑ "ueno bank y Olimpia forjan una poderosa alianza". ABC Color. 6 February 2024. Retrieved 14 January 2026.
  30. ↑ "ueno bank se consolida como nuevo sponsor oficial de Cerro". ABC Color. 6 February 2024. Retrieved 14 January 2026.
  31. ↑ "La camiseta de Guaraní llega con ueno bank". La Nación. 17 January 2024. Retrieved 14 January 2026.
  32. ↑ "Luqueño se suma a las alianzas deportivas de ueno". La Tribuna. 27 August 2024. Retrieved 14 January 2026.
  33. ↑ "ueno se convierte en el nuevo aliado estratégico del Comité Olímpico Paraguayo". Última Hora (in Spanish). 20 August 2023. Retrieved 4 November 2026.
  34. ↑ "Convenio entre Ueno y la SND para el apoyo del deporte paraguayo". Comité Olímpico Paraguayo (in Spanish). 2023-11-29. Retrieved 2026-11-04.
  35. ↑ "ueno bank es el Main Sponsor de los Juegos Panamericanos Junior ASU2025". ueno - Banco Digital. 30 May 2025. Retrieved 14 January 2026.
  36. ↑ "ueno bank fue el sponsor oficial de la corrida de la Fundación Dequení". Unicanal. 4 July 2025. Retrieved 14 January 2026.
  37. 1 2 "El Rally de Paraguay buscará nuevo patrocinador tras intervención de banco privado". SWI swissinfo.ch (in Spanish). 3 November 2026. Retrieved 4 November 2026.
  38. ↑ "El WRC Rally del Paraguay 2025 es reconocido como el mejor del mundo". Agencia IP (in Spanish). 2025-12-12. Retrieved 2026-11-04.
  39. ↑ "Crisis bancaria en Paraguay: qué pasa con Dürksen y la fecha del WRC". GRANDE PRÊMIO Español (in Spanish). 2026-11-04. Retrieved 2026-11-04.
  40. ↑ "ueno bank y Aldeas Infantiles SOS Paraguay renuevan su alianza por la niñez". ueno - Banco Digital. 8 May 2025. Retrieved 14 January 2026.
  41. ↑ "ueno bank se une a la Red SUMMA para impulsar la inclusión laboral". ueno - Banco Digital. 16 January 2025. Retrieved 14 January 2026.
  42. ↑ "Ueno bank y G5pro se unen en alianza para transformar el entretenimiento en Paraguay". La Nación. 28 November 2024. Retrieved 14 January 2026.