The overall value of transactions in January to May this year rose an annual 12% to over €1bn, JCC, a consortium of the major banks operating on the island, said in an emailed statement.

The value of cash withdrawals and purchases by holders of Cypriot cards abroad rose last month and in the first five months of the year 16% and 12% to €129.5m and €617.1m respectively, JCC said. The value of purchases of holders of foreign cards in Cyprus in May and in January to May rose 22% in both cases to €91.5m and €293.3m respectively.

The value of purchases by holders of Cypriot cards in Cyprus’ Turkish-held areas was in May €813,228 and in Turkey €354,010, JCC said. In the first five months of the year, the respective value was €3.6m and €1.1m.

The value of payments by holders of Turkish cards processed by JCC was in May €2.4m and in January to May almost €10m.

Source: Cyprus Mail