The Ueno case: what to check before choosing a bank in Paraguay

What happened at Ueno

On 3 November 2026, the Banco Central del Paraguay (BCP) announced the start of the resolution procedure for Ueno Bank, approved by its Board the previous day. According to the statement, the measure followed an insufficient solvency ratio identified after adjustments to the institution’s financial statements during its regularisation process. The procedure aims to address the situation in an orderly manner and protect depositors.

The BCP explained that the Deposit Guarantee Fund has coverage limits and conditions per depositor and per institution. Holding several accounts at the same bank does not multiply that coverage. On 4 November, it published further instructions on the guarantee advance. Those affected should consult the current official announcements to find out which procedure applies to their situation.

On 5 November, the BCP announced a lookup platform, accessible through its official channels, to identify the institution assigned to pay the advance.

The Superintendencia de Valores also reported a temporary suspension of redemptions in certain mutual funds with investments linked to Ueno. It clarified that the measure applied only to the identified funds and that normalisation would be gradual, depending on each management company. A bank deposit and a holding in a fund are different products; their recovery conditions should be reviewed separately.

What to check before signing up

• The institution and the product: who supervises them, what financial information and ratings are available, and which risks the contract sets out.
• Access to your money: currency, limits, withdrawal periods, and domestic and international transfers.
• The applicable protection: whether the product is covered by a deposit guarantee, and under which limits and conditions.
• How it works for your situation: documents required from foreign customers, evidence of the source of funds, fees and support while you are outside Paraguay.

How professional advice helps

Appropriate advice helps you compare options, prepare documents and ask the relevant questions before signing. For savings or investment products, the review should involve professionals qualified for that particular product. No adviser can guarantee an institution’s future solvency or eliminate risk.

At Paraguay360, we can help organise the banking side of your arrival and coordinate consultations with the specialists your situation requires. Account opening and the terms of each account depend on the financial institution.

If you are preparing to move or establish your company in Paraguay, tell us which transactions you need to carry out so we can include them in your arrival plan.