The Ueno Bank has collapsed, OTP's investment in Paraguay has paralyzed the country because two-thirds of the population are their clients.

The Paraguayan Ueno bank, once a leading financial institution, has collapsed, prompting the central bank to initiate a resolution process. OTP Bank, which holds a minority stake, confirmed its investment but stated it had no control over Ueno's operations. The bank had rapidly expanded its customer base, reaching 60% of the adult population, but now faces a liquidity crisis. The reasons for its downfall remain unclear, with speculation about excessive lending practices and political connections. Ueno's growth included acquiring Vision Banco, but the recent developments have left many customers unable to withdraw funds, causing widespread shock in Paraguay.