BusinessPhoto: HT WorldParaguay President Resigns After Ueno Bank Collapse
Paraguay's President Santiago Peña resigned following the collapse of Ueno, a digital bank with about 3 million customers in a country of 6.5 million. Founded in 2021, Ueno rapidly grew but faced regulatory scrutiny for excessive lending to companies linked to its controlling shareholder. The central bank intervened after Ueno breached solvency requirements, causing a financial crisis and restricting customer access to accounts.
HT World·

