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Value of bounced cheques up 39% to €2.1m in 2016, CBC says

The value of cheques dishonoured by the issuer rose 7.9 per cent last year to €2.1m as their number fell 27 to 1,131, the Central Bank of Cyprus said.

The number of issuers reported to have dishonoured cheques and were included in the provisional central information registry dropped last year 30 per cent to 581, broken down in 339 individuals and 242 legal entities, down 31 and 29 per cent respectively, the central bank said in a statement on its website.

Alone in December, the total value of bounced cheques rose 39 per cent to €150,654 while their overall number dropped 38 per cent to 73, the bank supervisor said.


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