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12° Nicosia,
18 July, 2024
 

Banks record fewer bounced checks in May

Bounced checks fall to 23 compared to 35 in May of last year

Newsroom

The number of bounced checks in Cyprus saw a significant drop in May 2024 compared to the same month last year, according to data released by the Central Bank of Cyprus on Tuesday.

In May 2024, there were 23 bounced checks, down from 35 in May 2023. The total value of these unpaid checks fell to €36,910, a 57% decrease from €86,325 in May 2023.

Registrations of individuals and entities in the Central Information Register for issuing bad checks rose slightly to 23 in May 2024, compared to 20 in May 2023.

From January to May 2024, there were 131 bounced checks recorded, down from 162 in the same period in 2023. The total value of bounced checks for the first five months of 2024 was €289,898, compared to €435,485 in the same period in 2023.

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

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Cyprus  |  banks  |  economy

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