Bank profits up 50%

Profits were up 50% to €1.37 million from €909,500 for College Inns, the company behind Charlie and David Chawke’s The Bank on Dublin’s Dame Street, for the year to 30th April 2016 according to the unaudited abridged financial statement lodged with the Companies Office.

This follows profit growth of 36% the previous year to €909,500 from €666,700.

Accumulated cash on hand fell from €246,090 to €38,120 during the year with the number of bar and kitchen staff at the Bank operation (including the two directors) has risen rising to 38 from 35 with a 12.3% rise in staff costs to €1.12 million from the previous year’s figure of €999,000.

Directors remuneration in 2016 also rose 35% from €52,823 to €71,466.