Credit Agricole pumps 2 bln euros into Greek Emporiki

France's third-biggest bank Credit Agricole injected about 2.0 billion euros ($2.6 billion) into its Greek unit Emporiki Bank, covering its capital increase, the Greek lender said on Wednesday.
Emporiki was delisted from the Athens stock exchange in October last year after Credit Agricole launched an offer to buy out minority shareholdings at 1.76 euros a share.
Greek lenders are trying to cope with rising bad debts and a shrinking deposit base as the austerity-hit country enters its fifth straight year of economic contraction, hit by austerity policies intended to pull it out of a debt crisis.
"The approximately 2 billion euro capital increase reaffirms the support of Credit Agricole and enhances Emporiki's strategic priorities for its future development," the bank said in a statement.