BlueShore Financial Reports Record 2017 Financial Results
VANCOUVER, BC – February 19, 2018 – BlueShore Financial reported outstanding financial results for 2017 with assets under administration (AUA) soaring to $5.2 billion.
BlueShore Financial results show record net operating income of $23.8 million and significant growth with over 14% increase in AUA. In 2017, BlueShore surpassed a milestone target of $5 billion AUA, closing the year at $5.2 billion, and achieved Return on Retained Earnings (RORE) of over 15%. With total loans up $403 million (up 13%) and total deposits increasing by $412 million (up 13%), BlueShore’s growth is in line with and in many areas ahead of its peers. In addition to this, wealth management portfolio growth of over 16% and net sales growth of over 9% were industry leading once again.
“Financial success allows us to innovate and reinvest to better serve our clients,” said Chris Catliff, President and CEO, BlueShore Financial. “In a year of rising interest rates, a booming housing market, and uncertain economic conditions, we are proud of the role we played in ensuring our clients are set up for a bright financial future.”
“We are extremely pleased to report outstanding earnings and to build on our track record of growth,” said Richard Butterworth, CFO, BlueShore Financial. “We are delivering superior services to clients and expanding our footprint into Vancouver with a new branch in Kerrisdale opening this year.”
“I’m pleased with BlueShore’s accomplishments in 2017,” said Allan Achtemichuk, Chair of the Board of Directors, BlueShore Financial. “Not only did the organization achieve impressive financial results, it has continued its focus on employee engagement and being a great place to work – recognized as a top employer in Canada for seven years in a row. Engaged employees who always put the best interests of clients first are the key to BlueShore’s success.”
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About BlueShore Financial
BlueShore Financial is a boutique financial institution providing a full range of personal and business banking, wealth management, insurance and commercial lending solutions. With 12 branches across the Lower Mainland and Sea-to-Sky Corridor, BlueShore Financial helps clients achieve financial wellness® through personalized solutions and expert advice, delivered in a unique Financial Spa® branch environment. BlueShore Financial manages over $5.2 billion in assets under administration, is consistently ranked among the top financial planning firms in Metro Vancouver, and has been named one of Canada’s Best Small and Medium Employers seven years in a row. As an Imagine Canada Caring Company, BlueShore Financial contributes at least 1% of pre-tax profits annually to charities and not-for-profit organizations within the communities it serves. BlueShore Financial is the operating name of BlueShore Financial Credit Union.