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Zaim Credit Systems waiting for clear picture of how Russia will emerge from coronavirus crisis

Siro Cicconi of Zaim Credit Systems PLC (LON:ZAIM) says the company will wait to see how the coronavirus situation pans out in Russia before resuming its growth plans.

The lender curbed activity when Russia went into lockdown but says the repayment attitude of its clients has not changed even though they have been quarantined for eight weeks.

The situation in Russia is getting better with restrictions being lifted slowly, but even so, he wants to wait a few more weeks to see a clear picture emerging.

Financially, the business is sound he says, but going forward he can see the online business becoming more important due to the experience of the lockdown period.

Quick facts: Zaim Credit Systems

Price: 2.1 GBX

LSE:ZAIM
Market: LSE
Market Cap: £9.18 m
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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...

on 11/5/20

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