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For Immediate Release                                                                              6 April 2021

Zaim Credit Systems Plc

("Zaim" or the "Group")

 Additional Debt Funding

Zaim Credit Systems plc, the FinTech group providing financial inclusion for those consumers who are not well served by mainstream lenders, is pleased to announce that its wholly owned subsidiary Zaim Express LLC has entered into a loan agreement for an additional RUB50 million unsecured loan (circa £0.5m) with a duration of 1.5 years and an annual interest rate of 15% payable monthly.

These funds will predominately be used to increase the active loan book of the Group by funding its online activities, with a smaller portion ringfenced for certain potentially high impact business development activities.  

Interest rates are structurally higher in Russia than in western Europe with the current central bank base rate of 4.5% and 15% is considered to be reasonable for an unsecured loan portfolio facility. The equivalent monthly rate of approximately 1.2% for this additional loan compares favorably to the current returns generated from the lending activities of the Group and is expected to have a meaningful impact on the financial performance of the business at what is a critical time for the rapid growth of the Group.

The Group ended 2020 with a strong performance and is pleased to report this has continued into 2021, a further update on the performance will be included in the financial results for the year to be released before the end of April.

Siro Cicconi: CEO of Zaim Credit Systems commented:

"We are pleased to note that our business, especially its online segment is growing beyond our expectations. As such we have found that we have had to restrict supply of loans to new customers - this additional facility will help us finance some of this additional demand and therefore enable us to enhance shareholder returns. We are pleased with the show of support from our existing banking provider, which adds additional validation to our business model"

Enquiries:

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").