Cypriot banks were presented with bad checks worth a total of €438,000 in April, according to data released on Wednesday by the Central Bank of Cyprus (CBC).

This is the largest monthly value of bad checks that has been recorded since at least 2020.

It also corresponds to more than half of the total amount of unsecured checks presented throughout 2020.

In January 2022, the total amount of bad checks presented to Cypriot banks amounted to €149,558, in February €93,811, while it reached €64,852 in March.

In total, bad checks worth €933,945 were presented in 2021.

According to the CBC data, the number of natural and legal persons involved in the use of bad checkers and subsequently registered in the preliminary list between January and April 2022 amounts to 81.

In addition, 69 persons were also registered in the Central Information Archive (CAP) during this time.

The preliminary list includes all bad checks presented to the banks and cooperative credit institutions.

Bad checks are those that remain unpaid due to lack or insufficiency of available funds of their issuer after 15 days have passed since they were first presented.

Natural or legal persons, who have issued bad checks and have been registered in the preliminary list, are automatically transferred to the main archive, if they meet the registration conditions provided in the relevant instructions.

In practice, this means that these people have issued three or more unsecured checks regardless of the amount, or have issued one or more unsecured checks for a total amount exceeding €2,000.

Cyprus Ports Authority chairman of the board directors Antonis Stylianou, during his speech at the inaugural Greece-Cyprus Business Summit, spoke on the upgraded role of the authority in the operational, regulatory and supervisory part of the port and other such activities in Cyprus.

The business summit, which took place in Athens on Saturday, was held under the auspices of the Cypriot and Greek Ministries of Finance, the Deputy Ministries of Tourism of both countries, the Hellenic Federation of Enterprises (Sev), as well as Cyprus’ Employers and Industrialists Federation (Oev).

According to a statement by the authority, Stylianou said that ports are “the ideal places for sustainable maritime development and innovation, especially in terms of the blue economy and green development”.

“The objective of the authority’s board of directors is to make the various maritime sectors more sustainable, resilient and better prepared for future challenges, all through the opportunities of the green, blue and digital transitions,” Stylianou added.

The Cyprus Stock Exchange (CSE) ended Wednesday, May 11 with losses.

The main Cyprus Stock Market Index was at 68.93 points at 12:49 during the day, reflecting a drop of 0.07 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.46 points, which represents a decrease of 0.05 per cent.

The total value of transactions came up to €12,802.

In terms of the sub-indexes, the main index fell by 0.35 per cent, while the alternative index rose by 0.28 per cent.

The hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by Hellenic Bank (-1.27 per cent), Alkis Hadjikyriacos (no change), CCC Tourist Enterprises (no change), the Cyprus Cement Company (no change), and Malloupas & Papacostas (-0.53 per cent).