Value of bouncing cheques falls by half this year

The number of bounced cheques dropped to a paltry 23 in September, with a total value of €72,185, according to the preliminary list issued by the Central Bank of Cyprus (CBC).

Specifically, data published by the CBC revealed that 23 cheques, of a total value of €72,185, were issued in September 2024. This marks significant decrease compared to September 2023, in which 26 cheques of a total value of €276,202 had been issued.

This follows the general downward trend for the year. The total number and value of bounced cheques for the first nine months of 2024 saw a significant decrease compared to the corresponding period last year.

From January to September 2024, a total of 232 cheques that bounced were issued, of a total value of €492,677, according to the preliminary list of the CBC’s Central Information Registry (CIR).

For the same period in 2023, the value of bounced cheques was twice as high, €970,120.

Moreover, the bounced cheques in the first nine months of 2024 involved 75 companies and 40 individuals.

In addition, the number of persons registered in the CIR in September 2024 was 16, including 4 companies, 5 individuals, and 7 individuals controlling companies.

Overall, 163 persons were registered in the CIR during the first nine months of 2024, compared to 207 persons in the same period in 2023.