Cyprus Mail
Business News in Brief

Value of dishonoured cheques rises 5.4% in May, central bank says

The number of dishonoured cheques reported in May rose an annual 5.4 per cent, to 97, with the respective amount rising 42 per cent, to €126,327, the Central Bank of Cyprus said.

In January to May, the overall number of bad cheques reported fell 26 per cent, to 522, while their overall value rose 46 per cent to around €1.1m compared to the respective period of 2015, the central bank said in a statement on its website on Friday.

The figure includes a number of cheques issued by a single individual worth €500,000, according to a central bank official.

The number of individuals and legal entities reported to have dishonoured cheques in May dropped 8.7 per cent, to 21, and 14 per cent, to 30, compared to the fifth month of 2015, the supervisory authority said. In the first five months of the year, their respective number dropped 37 per cent and 42 per cent, to 116 and 147.

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