Bounced cheques decline in 5M to € 800,000

Financial Mirror (Cyprus) - - FRONT PAGE -

The value of bounced cheques has de­clined sig­nif­i­cantly year-on-year to EUR 798,907 in the first five moths of the year, down from EUR 1,247,949 in the cor­re­spond­ing pe­riod last year, the Cen­tral Bank of Cyprus said.

In May alone, the amount of bounced cheques reached EUR 89,037, the low­est monthly level in 12 years when the cen­tral bank started pub­lish­ing records.

The num­ber of bounced cheques is­sued dropped from 1,100 in Jan­uary-May last year to 707 in the same pe­riod this year, with 436 in­di­vid­u­als and com­pa­nies reg­is­tered on the black­0list, down from 572 in the same five months last year. The to­tal value of bounced cheques last year reached EUR 3,361,113, down from EUR 5,673,450 in 2013, and EUR 7,759,687 in 2012.

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