CDB interested in Dresdner Bank

China Development Bank (CDB) is competing with Commerzbank AG to buy Allianz SE's Dresdner Bank, Germany's third-largest lender by assets, sources said.

China Development Bank, which funds the nation's public works projects, has conducted due diligence on Dresdner Bank in Frankfurt, said the sources, who declined to be identified because they aren't permitted to publicly discuss the matter.