Banking crisis in Paraguay: Major bank collapse sparks political uproar Oano Bank, one of the largest digital lenders in Paraguay, collapsed after failing to meet financial solvency requirements. Almost 3 million customers faced interruptions in accessing their bank accounts and deposits. According to reports, the bank held approximately $850 million in public funds, including pension-related deposits. President Santiago Peña announced his resignation on November 5, but was subsequently impeached and impeached by the Senate on November 6. Vice President Pedro Eliana was sworn in as the new president. Deposit protection is expected to cover about 97% of depositors.