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Zaim Credit Systems' CEO says 'Covid-19 experience has strengthened us'

Zaim Credit Systems PLC's (LON:ZAIM) Siro Cicconi talks to Proactive London's Katie Pilbeam about his Russia-focused microlender which has been exposed to the country's lockdown.

Cicconi notes that the lockdown in Russia is now over and thanks to their decision to accelerate the move online the business managed to offset the worst impact of such measures, now with 32 stores from 92 in March.

Although due to the lockdown, lending in the second quarter dropped by 36%. Interest income fell 26% to £2.8mln in the half-year to June with losses for the six months rising to £1.36mln from £553,000.

Quick facts: Zaim Credit Systems

Price: 2.45 GBX

LSE:ZAIM
Market: LSE
Market Cap: £10.71 m
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Zaim Credit Systems waiting for clear picture of how Russia will emerge from...

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...

on 4/6/20

2 min read