Bad cheques rose 21.82% in Q3
- Published: 21 Oct 2013 at 13.28
- Online news:
The Bank of Thailand reported a total of 68,700 bounced cheques in the third quarter this year, 12,300 more, or 21.82%, than in the June quarter.
These bad cheques to Sept 30 had a combined value of 10 billion baht, up 2.63 billion baht, or 35.64%, on the second quarter ended June 30.
Overall there were a total of 6.32 million cheques process, up 11.8%, with a combined value of 3.42 trillion baht, up 4.07% when compared with June.
Of the total bounced cheques, the largest portion was in Bangkok and vicinity at 53.42% of total, or 36,700 bad cheques found. These cheques had a combined value of 6.75 billion baht, up 35.27%.
A source at the Central Bank said the bounced cheques might be the result of the slowing in the economy, which caused people in general and householders to be more careful in their spending.
This resulted in slow business and a temporary lack of liquidity. However, the amount of bounced cheques was not a worrisome. It was still at low when compared to overall cheque usage. The Central Bank was closely monitoring the situation.