viewZaim Credit Systems

Zaim Credit continues to provide financial solutions during coronavirus crisis


Zaim’s credit rating system means the delinquency rate is less than 10%.

Zaim Credit Systems -

Quick facts: Zaim Credit Systems

Price: 2.12 GBX

Market: LSE
Market Cap: £9.26 m
  • Russia-based payday lender
  • Haa a 300,000-strong customer base around Moscow 
  • Listed on standard section of main market

What it does

Zaim Credit Systems PLC (LON:ZAIM) styles itself as a micro-finance/fintech company; however, it’s actually a payday loan business.

Not only that, it’s a Russian payday loans business.

Zaim has 300,000 customers who borrow an average of £95 for 20-25 days and they’ll use the service two or three times per year, paying 1% in interest per day.

To date, the company has issued 1mln loans.

Almost 100 stores

Currently, customers can call into one of 97 Zaim stores in the greater Moscow area and receive a loan decision in seven minutes. The cash is paid directly to a Mastercard.

There service also operates online and on the phone.

Zaim’s credit rating system, meanwhile, means the delinquency rate is less than 10%.

The company is the ‘micro-finance’ leader in western Russia and ranks 15th in the country.

Growing market

The market itself is growing at a fair clip. In 2018 the volume of loans grew by 35% to £1.9bn.

Analysts reckon that figure represents a fraction of Russia’s micro-finance potential.

Driving this expansion is a banking sector that under-serves working families who sometimes require short-term finance to meet unexpected calls on the household budget.

Zaim has been around since 2011 (so it’s not a start-up) and posted a profit of £900,000 on net interest income of £10mln last year.


How it is doing

Zaim said its lending business, Zaim-Express, is not impacted by Russia’s closure of non-essential business and that the microfinance sector is deemed to be critically important in meeting the needs of the Russian population.

Stores are open in compliance with international safety guidelines.

The value of loans advanced rose to £838,000 in December from £721,000 in October.

During 2019, Zaim said it was held back by the lack of available liquidity due to a restructuring of historic bonds and the IPO taking place later in the year than expected.


What the boss says: Siro Cicconi, chief executive 

“The long-term impact of COVID-19 on the Russian economy remains uncertain."

“However, our strong capital and liquidity positions makes us confident in the sustainability of the Company's operations. We are going to continue providing our customers easy and convenient access to affordable financial solutions, which is very important in this volatile environment".



Inflexion points

  • Mobile growth gathers pace
  • Bad debts continue to decline
  • Loan book increases

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