By Stelios Orphanides
The value of dishonoured cheques rose in May an annual 226 per cent to €412,095 even as their number dropped 3.1 per cent to 94, the Central Bank of Cyprus said.
Still, the overall value of bounced cheques in the first five months of the year fell 22 per cent to €912,419 compared to the respective period of 2016, the bank supervisor said in a statement on its website. The number of bad cheques reported in January to May dropped 12 per cent to 457.
The number of dishonoured cheque issuers reported dropped 16 per cent in May to 43, broken down to 30 individuals and 13 legal entities, compared to the respective month of 2016, the central bank said. The number of bad cheque issuers in the first five months of the years fell 18 per cent to 216. The number of individuals was 125 while that of corporations was 91.