The value of bounced cheques issued in Cyprus in the period of January to October dropped by 65%, according to data issued by the Central Bank of Cyprus.

According to the CBC, the total value of bounced cheques for the period of January to October declined to €0.53 million, compared to €1.54 million in the respective period of last year.

The number of bounced cheques issued in first ten months of 2024 stood at 252 compared with 280 the same period of last year, the CBC added.

Furthermore, total entries in the Central Information Register (CIR)  for Issuers of Dishonoured cheques amounted to 179 compared 228 in the respective period of last year. A total of 68 legal persons were included in the CIR in the period of January to October (85 in the respective period of last year), 29 natural persons (over 28 in the same period of last year) and 82 person who control companies (compared with 105 last year).

The average of entries in the CIR in the first ten months of the year amounted to 18 compared with 23 entries in the respective period of last year, the CBC added.