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CBE through its subsidiary company, Commercial Nominees (CN), is involved in the following activities: Pension Benefit Payment: CN effects pension benefit payment to about 45,000 pensioners through 153 branches of CBE and one own customer service center. Provident Fund Administration: The provident fund contributions of employees and employers of various organizations are administered by Commercial Nominees. Private Trust Administration: CN administers the funds of minors deposited by their guardians and families. Share-Dealing Activities: CN is also engaged in share-dealing activities. In this regard, CN handles share-subscription, registration and acts as share transfer agent. Salary Payment Service: Currently CN renders salary payment services to Sheraton Addis and Care Ethiopia. Real Estate Administration: According to the Articles of Association of CN, one of the activities of the company is to purchase, acquire, otherwise own, hold, sell, assign, transfer, lease, mortgage, pledge, exchange, or otherwise, dispose of immovable and movable property and the rights attached thereto and to manage, develop and improve immovable and movable property. Western Union Money Transfer Services: CN commenced rendering Western Union Money transfer service on January 25, 2000. The current payment outlets of CN are located around Piazza, Merkato, Beklobet, Arat Killo and Megenagna areas. Together with the Construction and Business Bank and Ethiopian Insurance Company, CBE is engaged in the under-listed activities through its share company, Universal Investors Company (UNICO): · Importing and distributing pharmaceuticals (human drugs) CBE is a major honorary share holder of Yetibeb Berhan Share Company, which is a philanthropy organization established to promote the following objectives: · Job creation and poverty alleviation |
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| ©2007 Commercial Bank Of Ethiopia |
