Cyprus Mail

Dishonoured cheque value up 61% in September

The value of dishonoured cheques rose 61 per cent in September, to €244,337, as their overall number dropped 23 per cent, to 89, compared to the respective month of 2015, the Central Bank of Cyprus said.

In January to September, the total value of bounced cheques rose 12 per cent, to below €1.4m, compared to the first nine months of 2015. The overall number of bad cheques dropped 31 per cent, the central bank said in a statement on its website on Friday.

The number of companies reported to have issued cheques they had later dishonoured fell 16 per cent, to 16, in September while the number of individuals rose 59 per cent, to 35, compared to the respective month of 2015, the central bank said.

In January to September, the number of legal entities and individuals who were reported to have issued bad cheques dropped an annual 40 per cent and 39 per cent, to 127 and 187, respectively, the supervisory authority said.

To date, the number of companies, individuals, and individuals controlling legal entities that have been banned from issuing cheques this year was 90, 95, and 115 respectively, according to the central bank data. Throughout 2015 the respective figures were 155, 197, and 197.

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