Vancouver, BC – February 22, 2022 – BlueShore Financial reports a strong 2021 financial year with record profits (Net Operating Income) at $42 million, and Return on Retained Earnings (RORE) of 17.8%. BlueShore’s Total Assets, including Assets Under Administration, grew 6% to reach $6.9 billion, which includes an impressive growth of 25% in wealth management assets to reach $1.7 billion.
Despite challenges and uncertainty felt globally due to the ongoing pandemic, BlueShore generated strong growth and high earnings to advance the business and deliver exceptional service to our clients. BlueShore was also pleased to grow residential loans by $130 million (5%) and commercial loans by $110 million (8%).
“Throughout 2021, we remained strong and resilient. We supported our clients with expert and personalized advice, helped lift up our communities, and improved the overall financial well-being of our clients,” said Chris Catliff, President and CEO. “Our solid financial performance will enable us to push our digital strategy forward to advance our premium client experience both digitally and in-person, while supporting our employees in the new ways of working and connecting.”
“In addition to achieving outstanding financial results, we were also recognized as one of Canada’s Most Admired Corporate Cultures by Waterstone Human Capital for the fourth time,” said Peter Leitch, Chair of the Board of Directors, BlueShore Financial. “To top off the year, our annual independent survey showed that 85% of clients surveyed agree that BlueShore works with their best interests in mind, compared to 58% of those who bank with other financial institutions. Accolades like this confirm that BlueShore continues to create positive experiences for both clients and employees.”
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 a branch network located 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 $6.9 billion in Assets Under Administration and is consistently ranked among the top 10 financial planning firms in Metro Vancouver.
BlueShore Financial is an Imagine Canada Caring Company, contributing 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.