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Zaim Credit Systems PLC expects slower but still smooth progress in Russia

Zaim Credit Systems PLC (LON:ZAIM) CEO Siro Cicconi says the Moscow-based microlender business has yet to be really impacted by the coronavirus.

Its customers are the poorest section of the community, he explains, and are relatively unaffected by big macro events.

Their needs are more basic, he adds, and they are used to economic hardship after the crisis in the country between 2014-15.

They need cash, he says, and because of that ZAIM is keeping its stores open in line with WHO guidelines.

The online business is growing faster than expected due to the two-week ‘holiday’ in Russia.

Overall, Cicconi does not see dramatic changes in the business due to the lockdown nor with liquidity as its financial position is robust.

Quick facts: Zaim Credit Systems

Price: 2.25 GBX

Market: LSE
Market Cap: £9.83 m

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Zaim Credit Systems weathering the coronavirus storm with good amount of...

Zaim Credit Systems PLC CEO Siro Cicconi tells Proactive the Russia-based lender is maintaining a good amount of cash on hand to come out of the coronavirus quarantine on top. Cicconi says while its stores are open, its online demand is growing more than in-store. He says the situation is...

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