Insider Economy Bounced cheques decrease significantly in 2020

Bounced cheques decrease significantly in 2020

Bounced cheques in the preliminary Central Information Register of the Central Bank of Cyprus (CBC) reached in 2020 their lowest level since 2003, while for the first time their total value was less than a million.

In December 2020, the value of bounced cheques registered, amounted to €51,231, while in 2020 their total value amounted to €741,700, recording a decrease of €672,028 compared to the previous year.

In 2019 the total value of bounced cheques amounted to €1,413,728, following a steadily declining trend from 2016 onwards. The value of bounced cheques in Cyprus reached its peak in 2009 when they amounted to € 9,302,614.

In December 2020, the bounced checks registered were 45, while a total of 454 were registered in 2020, compared to 914 registered in 2019.

In December, 10 legal entities and 21 natural persons were registered in the preliminary register, while in 2020, a total of 147 legal entities and 129 natural persons were registered. The registrations have declined compared to 2019, when 218 legal entities and 284 natural persons were registered.

The total number of persons in the preliminary register was 276 in 2020, which is the lowest number since 2003, compared to 502 in 2019 and 2,503 persons recorded at their peak in 2003.

(CNA)

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