Intriguing Surge: September Sees Rise in Dishonored Cheque Rates

According to the "Check Information-September 2024" report released by the Risk Center of the Banks Association of Turkey, the rate of dishonored checks presented to banks increased in September. During the January-September 2024 period, a total of 13 million checks were presented to banks by 544,000 issuers. The total value of the presented checks amounted to 5.560 billion TL.

The report indicates a notable increase in dishonored check transactions. In the same period, it was stated that 22,000 issuers presented 197,000 checks worth a total of 123 billion TL to banks, which were returned unpaid. Subsequently, payments were made for 34,000 checks valued at 19 billion TL by 13,000 issuers.

The ratio of dishonored checks to those presented to banks increased compared to 2023. In September, the ratio of dishonored checks to presented checks was 2.4% based on total value, and 1.8% based on quantity.

Cities with the highest rates of dishonored checks During the January-September 2024 period, the cities with the highest rates of dishonored check transactions were Istanbul, Ankara, Izmir, Antalya, and Bursa, respectively. It was observed that businesses in these cities struggled to meet their financial obligations.

Another noteworthy aspect of the report was the increase in the number of issuers and the number of presented checks compared to the previous year. The number of issuers increased by 5%, while the number of presented checks increased by 4%. However, the value of presented checks showed a significant increase of 81%. This indicates the ongoing impact of economic fluctuations and financial challenges in the markets.

The rise in the rates of dishonored checks according to September data highlights an important indicator that needs attention for ensuring economic stability and enabling businesses to manage their finances more effectively.