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BlueShore Financial (“BlueShore”) is a boutique financial institution providing a full range of personal and business banking, wealth management, insurance and commercial lending solutions. BlueShore has proudly served a growing and vibrant community since 1941. BlueShore has branches across Greater Vancouver and the Sea-to-Sky Corridor and has $6.9 billion in Assets Under Administration. 

This Management Discussion and Analysis (MD&A) contains information intended to provide a more complete understanding of BlueShore, including its financial and operating performance, and should be read in conjunction with the audited consolidated financial statements as at and for the year ended December 31, 2022. The consolidated financial statements have been prepared in accordance with the requirements of the Financial Institutions Act of British Columbia and International Financial Reporting Standards (IFRS).

From time to time, BlueShore makes written and/or oral forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding BlueShore’s objectives and priorities for 2023 and beyond and strategies to achieve them, the regulatory environment in which BlueShore operates, and BlueShore’s anticipated financial performance.

By their very nature, forward-looking statements require BlueShore to make assumptions and are subject to inherent risks and uncertainties, many of which are beyond BlueShore’s control and the effects of which can be difficult to predict. This may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. 

Any forward-looking statements contained in this document represent the views of Management only as of the date hereof and are presented for the purpose of assisting the reader in understanding BlueShore’s financial position, objectives, priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. BlueShore does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf, except as required by law.

In determining expectations for economic growth, BlueShore primarily considers economic data and forecasts provided by Canadian government agencies, as well as certain private sector forecasts. These forecasts are subject to inherent risks and uncertainties. Where relevant, material economic assumptions underlying forward-looking statements are disclosed within the outlook sections of this MD&A.

Overview of financial highlights