Fresh check clearing activity pursued its positive momentum with the total number more than tripling to ~27.5K YTD May 2025 form ~8.8K a year earlier. In addition, statistics are showing a much higher prevalence for fresh denominated checks, with their contribution to total clearing activity increasing from 8.66% YTD May 2024 (LBP contribution at 3.42% and USD contribution at 38.29%) to 36.60% in the same period in 2025 (12.88% for LBP & 89.71% for USD). In details, the total number of fresh LBP-denominated checks rose from 2,949 YTD May 2024 to 6,686 YTD May 2025, with their value rising by 166.23% to LBP 12,441 billion. Similarly, the total number of fresh USD-denominated checks rose from 5,840 YTD May 2024 to 20,801 in the same period in 2025, with the value of these checks increasing exponentially to $283.71 million from $79.60 million in the same period in 2024. Of the total number of fresh cleared checks, 75.68% was denominated in foreign currency, versus 66.45% a year before.
The value of non-fresh LBP-denominated cleared checks contracted by 25.03% on an annual basis to LBP 24,046 billion (distributed over 45,239 checks) in the first five months of 2025 from LBP 32,076 billion (distributed over 83,274 checks) a year earlier. Similarly, the value of non-fresh USD-denominated cleared checks contracted by 48.31% to $352 million (distributed over 2,385 checks) from $681 million (distributed over 9,413 checks) in the same period last year. Of the total number of non-fresh cleared checks, 94.99% was denominated in local currency, versus 89.84% a year before.
In a related note, the total number of returned checks (fresh and non-fresh) expressed as a percentage of the total number of cleared checks fell to 0.49% YTD May 2025, down from 0.60% a year earlier. In details, the number of LBP-denominated returned checks calculated, as a percentage of the number of LBP-denominated cleared checks dropped to 0.37% down from 0.41% by end of May 2024 with that of USD-denominated ones calculated as a percentage of total USD-denominated cleared checks dropping to 0.75% down from 1.64% YTD May 2024.
