European bank with the biggest losses ,,,,,,,,,,,,,,anant arora

European bank with the biggest losses from the credit crisis, reported its first profit in more than a year, helped by a recovery at the investment bank and a lower charge tied to the company’s debt.

Fourth-quarter net income was 1.21 billion Swiss francs ($1.13 billion), compared with a loss of 9.56 billion francs a year earlier, the Zurich-based bank said in a statement today. Earnings beat the 416 million-franc estimate of 14 analysts surveyed by Bloomberg, helped by a 480 million-franc tax credit.