CYPRUS: Bounced cheques decline in 5M to €800,000

The value of bounced cheques has declined significantly year-on-year to €798,907 in the first five moths of the year, down from €1,247,949 in the corresponding period last year, the Central Bank of Cyprus said.

In May alone, the amount of bounced cheques reached €89,037, the lowest monthly level in 12 years when the central bank started publishing records.
The number of bounced cheques issued dropped from 1,100 in January-May last year to 707 in the same period this year, with 436 individuals and companies registered on the black0list, down from 572 in the same five months last year.
The total value of bounced cheques last year reached €3,361,113, down from €5,673,450 in 2013, and €7,759,687 in 2012.