Peter Baltussen joined Commercial Bank of Dubai (CBD) in 2006, after holding several managerial positions at ABN Amro Bank for eighteen years and serving as CEO of Saudi Hollandi Bank in Saudi Arabia. Baltussen was instrumental in expanding the bank’s network to 27 branches across the UAE and driving its strong financial performance. CBD’s first-quarter net profit rose 1.5 percent to AED245.5m. The bank last month said it repaid AED1.5bn of deposits it received from the government in 2008.