Value of Cleared Checks Declined by 3.67% y-o-y by August 2018

According to the Association of Lebanese Banks (ABL), the value of cleared checks reached $44.11 Billion (B) by August 2018, down by 3.67% compared to the same period last year. Likewise, the total number of cleared checks fell by 3.96% year-on-year to reach 7.89M by August 2018.

The number and value of cleared checks in foreign currencies declined by 7.16% and 5.61% to reach 4.82M and $29.82B respectively by August  2018.

On the other hand, the number and value of cleared checks in Lebanese Pounds increased by 1.54% and 0.65% year-on-year to reach 3M and $14.3B, respectively.

The share of cleared checks denominated in foreign currencies in the total number of cleared checks declined from 63.22% by August 2017 to 61.12% by August 2018.

As for the number of returned checks it recorded an annual increase of 15.52% to reach 177,002 by August 2018. Accordingly, the share of returned checks in the total number of cleared checks rose from 1.87% by August 2017 to 2.24% by August 2018.

Meanwhile, the value of cleared checks reached $5.44B in August 2018, down by 9% compared to August 2017. Similarly, the total number of cleared checks fell by 8% to reach 982,106 in August 2018.

Value of Cleared Checks by Aug (USD in $M)

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Source: Association of Banks in Lebanon

 

 

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