Bad check volume rises by around 50 percent in value in eight months: Association
ISTANBULThe volume of bad check transactions in value rose by 49 percent in the first eight months of the year compared to the same period of 2014, according to data released by the Risk Center of the Banks Association of Turkey on Sept. 14.
The number of bad checks increased by 21 percent from January-August this year compared to the same period of 2014.
A total of 15 million checks worth 429 billion Turkish Liras were tendered to banks in the first eight months of the year.
A total of 490,000 uncovered checks worth 17.6 billion liras were seen over the January-August period of this year. Some 94,000 of these checks worth 2.5 billion liras were paid later on, according to the statement.
The largest amount of uncovered transactions were made in Istanbul, the capital city of Ankara and the Aegean province of İzmir in August, followed by the Mediterranean resort of Antalya and the northwestern province of Bursa.
The most uncovered transactions in value were seen in Istanbul, Ankara, İzmir, Antalya and the northwestern province of Kocaeli, said the statement.
The highest uncovered-to-tendered check rate was seen in the eastern provinces of Bitlis, Bingöl, Van, Hakkari and Mardin. The lowest rate was seen in the Central Anatolian province of Çankırı, followed by Sinop and Karabük in the Black Sea.