ZAIM Credit Systems PLC Business Update (2550I)
11 12월 2020 - 4:00PM
UK Regulatory
TIDMZAIM
RNS Number : 2550I
ZAIM Credit Systems PLC
11 December 2020
Not for release or distribution, directly or indirectly, within,
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securities laws of such jurisdiction
For Immediate Release
11 December 2020
Zaim Credit Systems Plc
("Zaim" or the "Group")
Business update
Zaim Credit Systems plc (the 'Group' or 'Zaim'), the Russian
focused fintech group providing financial inclusion for those
consumers who are not well served by mainstream lenders, announces
an update from its wholly owned subsidiary, Zaim-Express LLC,
('Zaim-Express') in respect of its online business.
Highlights[1]:
-- Amounts funded online of GBP854k during November representing
an increase of 62% since September (see Q3 figures) and a
remarkable 490% since June (see Q2 figures)
-- Amounts funded offline of GBP303k during November
representing a decrease of 17% since September as more resource and
growth directed into the online business
-- Continued strong cash collection from existing loan portfolio
used to fund the online growth whilst maintaining positive
operating cash flows
-- Early indications are that default rates remain stable, with
improvements in the credit scoring system offsetting any usual
increase in expected defaults as a result of increasing volumes of
new clients and which by itself is a byproduct of rapid growth
-- Directors expect positive momentum to continue with 2021 expected to be an exciting year
Siro Cicconi, Zaim's CEO commented:
"I am delighted to report that we are continuing to exceed
expectations and November delivered yet another record month for
the online business which grew 62% in just two months and an
impressive 490% in just 5 months. We expect this positive momentum
to continue into 2021 and look forward to updating the market on
the trading of the business as part of the year-end update."
Enquiries:
Zaim Credit Systems Plc
Simon Retter
Siro Cicconi Tel: +44 (0) 73 9377 9849
Alex Boreyko Tel: +7 925 708 98 16
investors@zaimcreditsystemsplc.com
Beaumont Cornish Limited
Roland Cornish / James Biddle Tel: +44 (0) 20 7628 3396
Optiva Securities Limited
Jeremy King / Vishal Balasingham Tel: +44 (0) 20 3137 1902
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
[1] All figures presented throughout this announcement represent
unaudited management information taken from the internally
generated management accounts of Zaim-Express LLC
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END
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December 11, 2020 02:00 ET (07:00 GMT)
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