According to a central bank statement released yesterday to Turkish financial institutions, the number of bounced checks has increased from 1.38 million in 2008 to 1.78 million in 2009.
The number of bad checks that were later paid by depositors increased 20.4 percent from 849,000 to over 1 million. In the same period, checking accounts that were closed because of bounced checks increased by 7.5 percent to 77,039.
The statement also compared the figures on a monthly basis. Comparing November of this year to last, the number of bounced checks decreased by 23.5 percent, to a total of 113,584. The number of cancelled checking accounts increased by 35.7 percent in November compared to the same month last year, with a total of 9,720 accounts. The central bank also noted that comparing November 2008 and November 2009, the number of bounced checks that were eventually paid by depositors decreased by 35.7 percent, from 81,752 to 71,538.
Comparing November and October of this year, the statement revealed that the number of bounced checks decreased by 26.3 percent, while the number of cancelled accounts decreased by 20.1 percent. Moreover, the number of bounced checks that were eventually paid increased by 14.4 percent in the same period.
