Zaim Credit Systems PLC (LSE:ZAIM), the Russia focused fintech group, said its business is not affected by the international restrictions on Russian banks.
The company issued a statement about the current situation in Russia, saying it is complying with all UK, US & EU sanctions against Russia.
The company reassured shareholders it has no relationships with any Russian banks and no significant Russian shareholders.
Its Zaim-Express business mainly earns its corn issuing microloans online via its website and mobile application and through a network of its branches in and around Moscow and as such is not affected by international restrictions on using the SWIFT international payment system.
Zaim said it is accelerating its work to expand into other European countries and is actively undertaking an assessment of jurisdictions in which to deploy its technology
“Zaim Express and its systems are working as normal and it continues to serve its clients in the normal course of business with as yet no significant deviation in business performance,” the company said.