Cyprus Mail

Number of bad cheques drops, value rises

The number of dishonoured cheques reported to the central bank dropped 10 per cent in November, to 116, compared to the respective month of 2015, the supervisory authority said.

The fall in the number of bad cheques was accompanied by an 83 per cent year-on-year increase in their value, to €240,835.70, the Central Bank said in a statement on its website.

In January to November, the total number of bounced cheques dropped an annual 26 per cent, to 1,058, while the respective value rose 6.1 per cent, to almost €2m, the CBC said.

The number of individuals who dishonoured cheques dropped 28 per cent, to 28, in November and 30 per cent, to 317, in January to November. The number of companies reported for issuing bad cheques rose 8 per cent, to 26, in November and dropped 29 per cent, to 228, in January to November.

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