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1 GFNORTE 3Q03. 2 HIGHLIGHTS GFNORTE 1,227* 15.8% 23.0 2.5 * 1.1 12.8% 78% 3.3% 118.6% 1,625 17.7% 33.2 3.2 1.3 13.8% 33% 2.3% 127.6% NET INCOME IN MILLION.

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Presentation on theme: "1 GFNORTE 3Q03. 2 HIGHLIGHTS GFNORTE 1,227* 15.8% 23.0 2.5 * 1.1 12.8% 78% 3.3% 118.6% 1,625 17.7% 33.2 3.2 1.3 13.8% 33% 2.3% 127.6% NET INCOME IN MILLION."— Presentation transcript:

1 1 GFNORTE 3Q03

2 2 HIGHLIGHTS GFNORTE 1,227* 15.8% * % 78% 3.3% 118.6% 1, % % 33% 2.3% 127.6% NET INCOME IN MILLION PESOS AS OF 3Q03. EPS & BOOK VALUE ARE PESOS PER SHARE. BOOK VALUE EXCLUDES MINORITY HOLDINGS. * EXCLUDES GENERALI EXTRAORDINARY INCOME OF Ps 403 millions. 9M03 9M02 BANKING SEGMENT Net Income Annualized ROE Stock Price EPS P/BV Capitalization Ratio Traditional loan CAGR Past due loan ratio Reserve Coverage 32%44%

3 3 EXTRAORDINARY INCOME NOT INCLUDED IN GRAPH: 1997: PS 783, 1998 : PS 476, 2000: PS 241 AND 2002: PS 403. MILLIONS AS OF SEPTEMBER GFNorte’s Recurrent Income

4 4 Net Interest Margin Cete TIIE 8.1% 5.1% 7.1% 4.6% 8.4% 7.4% 9.6% 8.8% 6.8% 6.3% TYPE OF ASSET 2Q03 3Q03 Fobaproa / Ipab Notes86,1252.7%84, % Loan Portfolio63,5927.8%67, % VOL NIM VOL NIM Other (1) 34,2091.9%38, % Total183,9274.3%189, % (1): 3Q03 Includes: Deposits in Central Bank Ps 17,079 millions, Fixed Income Securities Ps 14,585 millions and in other banks Ps 6,609 millions

5 5 Non Interest Income Recovery 484 Service 1,478 Trading 811 TOTAL 2, , ,346 MILLION PESOS AS OF 3Q03 41%18% ,661 Service Fees

6 6 Non Interest Expense MILLION PESOS. (*) FOURTH QUARTER 2001 INCLUDES PROFORMA FOR BANCRECER VAT = VALUE ADDED TAX. AT 3Q02 VAT=PS 421 MILLIONS AND IPAB=PS 493 MILLIONS. AT 3Q03 VAT=PS 449 MILLIONS AND IPAB=PS 537 MILLIONS O&AE = OPERATION AND ADMINISTRATIVE EXPENSES INCLUDING IT. OTHER EXPENSES = RENT, DEPRECIATION & AMORTIZATION. 9% 6,775 6,810 PERSONNEL O&AE VAT & IPAB OTHER

7 7 EFFICIENCY RATIO INCLUDES TRADING. * AVERAGE FOR THE PERIOD.  Banorte has successfully integrated three institutions over the last 6 years.  The Efficiency ratio has suffered after each acquisition, being Banorte able to return to adecuate efficiency levels in the following years.  The efficiency ratio should continue to improve in the coming quarters as we leverage the Bancrecer branch network and penetrate its client base. Efficiency Ratio 1992 Efficiency Ratio Dec %66%93%78%105%78%87% 3Q’03 * 77%

8 8 Traditional Loan Portfolio TRADITIONAL LOAN PORTFOLIO 3Q022Q033Q03 QUARTER Commercial16,98618,58019,7766%6%16% Corporate11,83613,65412,459(9)%5%5% Mortgage10,13911,79112,4696%6%23% Automobile2,6714,0464,57313%71% Credit Card1,5792,1692,49915%58% Electronic Payroll Loans ,00123%112% Government Entities3,9957,6088,80516%120% Financial Entities1,5573,3333,6449%9%134% TOTAL49,23461,99765,2295%5%33% FIGURES = MILLION PESOS. TRADITIONAL LOAN PORTFOLIO DOES NOT INCLUDE NEITHER FOBAPROA / IPAB NOTES NOR RECOVERY BANK BUSINESS GOVERNMENT ENTITIES INCLUDES FEDERAL, STATE & MUNICIPALITIES FINANCIAL ENTITIES = INCLUDES GOVERNMENT AND PRIVATE FINANCIAL ENTITIES LIKE LEASING,FACTORING COMAPNIES AND OTHERS. VARIATION ANNUAL

9 9 Past Due Loans Grupo Pulsar non performing loan of USD 50 million was fully paid with a 46% discount. MORTGAGE CORPORATE COMMERCIAL 2Q03 1,227 1, AUTOMOBILE141 CREDIT CARD119 ELECTRONIC PAYROLL74 3Q03 1, TOTAL3,911 3,414 RECOVERY LOANS TYPE OF LOAN PDL Ratio 0.8% 0.3% 0.1% 2.6% 0.5% PDL Ratio 0.8% 0.4% 0.3% 0.1% 2.3% 0.5% MILLION PESOS

10 10 Loans & Insurance allocation by quarter 3Q021Q033Q03 BANCRECERBANORTE NUMBER OF LOANS AND INSURANCE POLICIES. AUTOMOBILE ELECTRONIC PAYROLL LOANS MORTGAGE 10%21% 90% 79% 1,677 1,397 LIFE INSURANCE 3Q02 1Q03 42% 100% 58% 13,626 29,872 CAR INSURANCE 3Q02 1Q03 74% 63% 16,678 20,753 26% 37% 3Q021Q033Q03 38% 62% 9,929 21% 79% 6,946 41% 59% 10,729 3Q021Q033Q03 20% 33% 80% 67% 20,403 22,793 35% 65% 34,988 39% 61% 2,085 3Q03 45% 55% 36,470 3Q03 61% 19,317 39%

11 11 Loan Allocation by quarter 3Q024Q021Q032Q033Q03 MORTGAGE$ ,125 #1,6771,7371,3971,8672,085 Average amount per loan AUTOMOBILE$ ,0601,1101,215 #6,9468,2879,9299,89410,729 Average amount per loan $= MILLION OF PESOS; #= NUMBER OF LOANS; AVERAGE AMOUNT PER LOAN=THOUSAND PESOS. NUMBER OF LOANS AND AMOUNTS ARE ACCUMULATED IN THE QUARTER. 49,000 dlls 10,000 dlls

12 12 PDL by date of origination LOAN ALLOCATION AS OF SEPTEMBER MILLION PESOS.*INCLUDES RECOVERY LOANS AND IPAB/FOBAPROA. COMMERCIAL CONSUMER - Mortgage - Automobile - Credit Card - Other CORPORATE GOVERNMENT TRADITIONAL LOANS TOTAL LOANS* FINANCIAL ENTITIES TotalPast DueRatio Granted Before Dec’01Granted After Jan’02TOTAL TotalPast DueRatioTotalPast DueRatio 2, %17, %19, % 9, %11, %20, % 7, %5, %12, % %4, %4, % 1, % %2, % % %1, % 1, %10, %12, % 2, %6, %8, % %3, %3, % 16,1471,05749, ,2281, ,1052,49349, ,3103,4142.4% 1.9% 2.3% 6.5%1.8%3.0%

13 13 Recovery Bank AUM Composition AUM = ASSETS UNDER MANAGEMENT (*): FIGURES IN BILLION PESOS Proprietary Loans Acquired SERFIN IPAB 11% 7% 17% 25% 30% 29% 25% 42% 43%

14 14 Loan Auctions Ps 27.2 billion to be sold by IPAB and private financial institutions from 4Q03 to 3Q04.

15 15 Long Term Savings Sector AFORE (Assets under Management) INSURANCE (Gross Written Premiums) ANNUITIES (Gross Written Premiums) MARKET SHARE GFNORTE’S PROFIT CONTRIB. RANK 3Q02 3Q03 3Q02 3Q03 3Q02 3Q03 INSURANCE’S MARKET SHARE AND PLACE ARE AS OF JUNE % 10.1% 6.3% 6.0% 6° 5° 1.1% 1.6% 1.7% 4.0% 15° 14° 9.8% 9.6% - 2.7% 5° 6° MILLION PESOS

16 16 Dividends Payout ratio (1) 33% (1)Ps 500 millions / Net Income as of 2001 Ps 1,587.9 millions; Ps 353 millions / Net Income as of 2002 Ps 2,016.0 millions (2)$ 1 / Share Price as of Sep’ 2002 $ 22.99; $ 0.70 / Share Price as of Sep’ 2003 $ Dividend / Share Ps % Ps 0.7 Yield (2) 4.4% 2.1%

17 17 Stock Performance 3Q’ Nov 6th 2003 STOCK PRICE13.8 GROWTH VS 3Q01 PS- USD- P / BV GFNORTE BBVA BANCOMER GFBanorte's P/BV Discount to GFBB's DAILY VOLUME (USD Million) % 55.6% % 108.3% (20)% % 148.8% %(47)%(21)%

18 18 Dec ’01 – Nov 5th‘ 03 1st GFNorteBanco de Brasil Banco de Chile Santander Chile ItaúUnibanco Bancomer Bradesco Source: Bear Stearns Growths were calculated on USD share prices Stock Price Performance among Mexican, Brazilian and Chilean Banks Inbursa

19 19 Management AGE CEOOthón Ruiz Montemayor60 BANKINGManuel Sescosse Varela51 LONG TERM SAVINGSEnrique Castillón Vega63 RECOVERY Miguel A. García Padilla Fdz.49 PREVIOUS EXPERIENCE GRUPO VISA Bancen MULTIVA, Probursa’s Brokerage House, Sesvar, Sesscose Hnos. Constructores Inverméxico, Seguros Monterrey Aetna, Finanzas Monterrey y Seguros Monterrey. GRUMA AGE PREVIOUS EXPERIENCE BUSINESS UNITS CORPORATE Antonio Emilio Ortíz Cobos52 Bancomext y Citibank PYMES Enrique Catalán Guzmán:55 Fitchibca, Productos Químicos y Vegetales and Nacional Financiera PLANNINGSergio García Robles Gil43 RISK MANAGEMENTGerardo Coindreau Farías50 TECHNOLOGY Alejandro Ramos Larios49 FINA Value, Banamex and Bank of America Serfín and Citibank. Banca Quadrum, Hidelbrando, BBVA Probursa, Probursa’s Brokerage House and Culliet Mexicana. AGE PREVIOUS EXPERIENCE SUPPORT & CONTROL FINANCE Federico A. Valenzuela Ochoa55 Afin Casa de Bolsa, Grupo Técnico Asesor and Inverméxico. HUMAN RESOURCES Gerardo Soto Pérez47 Productora e Imp. De Papel, S.A., Presidencia de la República and Instituto Mexicano de Comercio Exterior. MARKETING Gloria Cecilia Miller Suárez40 Duraligth de México, Industrias Cannon. LEGAL Aurora Cervantes Martínez39 Procuraduría General de la República. COMPTROLLING Jorge Eduardo Vega Camargo43 Banco Internacional, S.N.C. EXPERIENCE EXPERIENCE

20 20 Outlook  Traditional Loan Portfolio growth:  Low Cost Deposit growth:  Asset Quality:  NIM:  Non Interest Income: - Service fees: - Recovery fees:  Capital Management: improving steadily improving slowly stable improving slowly stable cash dividend

21 21 GFNORTE 3Q03

22 22 Bancrecer Integration Schedule Jul - Sept 3Q Jan - Mar 1Q Apr - Jun 2Q Commercial Integration Oct - Dec 4Q Jul - Sept 3Q Apr - Jun 2Q Jan - Mar 1Q Accounting Customers NTF Branch System Deployment DONEDONE PLANNEDPLANNED Core System Enhancements Oct - Dec 4Q 2003 NTF Branch System Development

23 23 STRATEGIC POSITION INDUSTRY ANALYSIS COMPETITIVE POSITION ANALYSIS VISION, MISSION, STRATEGIC IMPULSE SPECIFIC STRATEGIES 3-5 YEAR PROYECTIONS 3-5 Year Business Plan JUN 2003 SEP 2003DEC 2003JAN 2004APR 2004 MAR 2004

24 24 Tot. M.S. Branches Total Deposits $27, Total Loans $7, Market Share TOTAL M.S. Branches 1, % Total Deposits $202, % Total Loans $150, % Tot. M.S. Branches Total Deposits $18, Total Loans $6, Tot. M.S. Branches Total Deposits $55, Total Loans$19, Tot. M.S. Branches Total Deposits $20, Total Loans $5, MONTERREY NORTHEAST SOUTHEAST NORTHWEST Tot. M.S. Branches Total Deposits $28, Total Loans $7, WEST MILLION PESOS. SOURCE: ABM M.S. MARKET SHARE. BRANCHES: INCLUDES BANKING MODULES AND EXCLUDES REMOTE COUNTERS; TOTAL DEPOSITS: INCLUDES CENTRALIZED OPERATIONS. TOTAL LOANS: INCLUDES IPAB AND FOBAPROA NOTES. Tot. M.S. Branches Total Deposits $49, Total Loans $19, MEXICO CITY 4° 3° 1° 2° 1° 5° 6° 5° 4° 5° 3° SEPTEMBER 2003


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