ANZ teams CDB to conquer APAC market

Partnership will strengthen CDB's presence in Asia-Pacific region with ANZ as its agent.

ANZ CEO Mike Smith told in a report in the The Australian that the deal “is a first of a kind."

"What they are looking for is a partnership to create a conduit into the areas in which we operate, particularly Australia, New Zealand and the Pacific. Not so much in the other areas of Asia, although we are willing to work with them there too. They are wanting to get the local expertise, the local feel and local flavor," Smith added.

CDB, with about $636 billion in assets at the end of last year, is actively looking for development opportunities in Australia, New Zealand and the Asia-Pacific. These could include participation in syndicated loans, in particular those investments with a China element, or providing funding to companies with a solid credit rating of A or above.