The Association of Banks of Paraguay has requested that the Central Bank of Paraguay provide clarity on the solvency of institutions that received aid during merger processes. This statement was made on Sunday, October 18, 2026, following calls from senators across the political spectrum urging President Santiago Peña to remove the leadership of the Central Bank.
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The association, which represents 14 private lenders, emphasized the need for transparency, stating, "We ask the Central Bank to report on the solvency of all entities that received facilities in merger processes. That way doubts will be cleared, and, if any entity does not comply, action can be taken in time.” They expressed concerns that the stability of lenders should not rely on preferential treatment.
This request follows a report by the Central Bank regarding several private lenders, including Ueno Bank, which has reportedly drawn significant public deposits over the last few years. The association deemed the Central Bank's report "incomplete" and expressed ongoing concerns about the exposure of one unnamed private bank to companies within its own group.
On Wednesday, senators urged President Peña to dismiss the board of the Central Bank, particularly its president, Carlos Carvallo. Peña had previously voiced support for the institution and called for calm amid rumors concerning Ueno Bank. As of now, neither the Central Bank nor Ueno Bank has commented on the association's statement. In 2024, Peña referred to earlier reports regarding a significant bond purchase by the Social Security Institute in Ueno Bank as "a media campaign" and "lies". Ueno Bank’s head, Juan Manuel Gustale, clarified that Peña was a shareholder in Ueno Holding, not in Ueno Bank itself, with Peña later affirming that he had sold those shares in April 2025.