Albert Edwards, an analyst at French bank Societe Generale who correctly predicted the Asian financial crisis, sees global equity markets at a new low and chances of another global recession in 2010.

Societe Generale's missed forecasts with a third quarter net profit that more than doubled from a year ago and the bank said the economic environment remained uncertain, following a deep financial crisis.

Erste Bank said the worst of the crisis may now be over for banks in emerging Europe, after it beat third-quarter earnings forecasts and launched a 1.65 billion euro ($2.4 billion) cash call.

Dutch bancassurer ING will split in two, transforming itself into a smaller European lender in the most striking example yet of the deep changes that EU policymakers want to force on banks that received state aid.

Credit Agricole said it would repay $4.5 billion of state support this month, the last of the French banks to detail when it will reimburse government aid given during the financial crisis.

JP Morgan changed its preference to traditional, credit-exposed banks from investment banks after regulators pledged to toughen capital rules for financial institutions, Reuters reported Wednesday, quoting research by the bank.

Stanford investors are suing five banks, including two in the US, that handled billions of dollars in customer deposits for Stanford International Bank in Antigua, the offshore bank at the heart of the alleged Ponzi scheme.

Goldman Sachs may be bad, but it’s far from the worst.

The results of the stress tests on 19 of the biggest US banks have left European banks exposed, as they now look vulnerable to recapitalization needs and to claims that not all checks were made to ensure rules were being followed, analysts said on Friday.