BlueShore Financial reports a steady 2022 financial year with profits (Net Operating Income) at $19 million, and Return on Retained Earnings (RORE) of 7.3%. Total Assets, including Assets Under Administration, grew 0.7% to $6.9 billion. BlueShore’s capital base remains healthy and supports its ability to manage through the current economic cycle with growth of 4.2% to $386 million.
Throughout the rapidly changing environment of 2022, BlueShore generated a solid financial performance and continued to deliver a premium financial service experience to its clients. BlueShore grew residential loans by $109 million (4%) and commercial loans by $35 million (2%), lower than in previous years but with a prudent view to real estate market dynamics and risks. Investment net sales of $83 million reflect client confidence in BlueShore’s Wealth offering during a difficult year for equity and bond markets.
“In a year where the external environment presented challenges, BlueShore continued to deliver on its commitment to clients. Our annual independent survey conducted by Ipsos, showed that 81% of clients surveyed agree that BlueShore improves their financial well-being, compared to 59% of those who bank with other financial institutions,” said Peter Leitch, Chair of the Board of Directors, BlueShore Financial. “These kind of compelling affirmations from our clients show we are on the right path in delivering a differentiated experience at BlueShore.”
“We generated a healthy financial performance in 2022, while also supporting our clients, employees, and our communities,” said Chris Catliff, President and CEO, BlueShore Financial. “We continued to elevate our client experience, while consistently delivering exceptional and personalized service. Our commitment is to ensure our clients’ best interests are top-of-mind and to help them achieve overall financial well-being .”
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 $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.
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