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Number and value of bounced cheques drop in May

08:20 - 05 June 2024

Economy Reporter

The latest financial data for May 2024 indicates a substantial reduction in the number of bounced cheques compared to the same month in previous years. according to the Central Bank of Cyprus which released statistics relating to the Central Information Register.

In May 2024, the number of bounced cheques stood at 23, a decrease from 35 in May 2023. The total value of unpaid cheques in May 2024 was €36,910, down from €86,325 in May 2023, recording a 57% decrease.

Additionally, the number of registrations of persons (including legal persons, natural persons, and natural persons controlling legal entities) in the Central Information Register for issuers of bad cheques reached 23 in May 2024, compared to 20 in the same month last year.

There were 131 bounced cheques recorded from January to May 2024, a drop from 162 in the same period in 2023. The total value of bounced cheques for the first five months of 2024 amounted to €289,898, compared to €435,485 in the same period in 2023.

The number of persons with bounced cheques also dropped to 60 from 96 in the same period of 2023.

(Source: CNA)

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