Portuguese write â¬173.9m in bad cheques to July
18 August 2018
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Banks returned â¬173.9 million in uncovered checks by July this year, more than in the same period in 2017, according to figures released on Wednesday.
According to the Statistical Bulletin of the Bank of Portugal (BdP), released on Wednesday, 50,300 cheques with insufficient funding were submitted to national banks between January and July of this year, worth the equivalent of â¬173.9 million.
In the same period of 2017, 56,200 bad cheques were written out, for a total of â¬161.9 million.
However the value of 'bounced' cheques in Portugal has declined over the years, totalling â¬267.6 million in 2017, â¬322.8 million in 2016, â¬343.8 million in 2015, â¬433.8 million in 2014 and â¬674.7 million in 2013.
The figure recorded last year is, in fact, the lowest in the last 18 years.
In this period, the highest figure was recorde d in 2003,when it reached around â¬2.6 billion.
18 August 2018
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