articles | 08 September 2020

Bounced cheques issued in Cyprus increase in August

Bounced cheques issued in August amounted to €75,840 marking an increase of 72% compared with the previous month, data released by the Central Bank of Cyprus (CBC) today show.

According to the CBC, 39 bounced cheques were issued in August compared with 33 in the previous month.

The value of bounced cheques rose to €75,840 compared to €43,949 in July 2020.

For the period of January – August the number of bounced cheques amounted to 282 compared with 629 in the respective period of 2019, marking a decline of 55% which is mainly attributed to the two-month lockdown enforced by the Cypriot authorities as part of the measures to limit the spread of the coronavirus pandemic.

The value of bounced cheques issued in the period of January – July 2020 amounted to €523,702 compared to €1 million in the respective period of 2019, marking a reduction of 48%.

Furthermore, 14 persons have been registered in the Central Information Registry’s preliminary list, of which 14 legal persons and 10 natural persons.

Total registrations for the period of January – August amounted to 182, the CBC added.

Source: In-Cyprus

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