1 GFNORTE August, 2008.

2 1.Financial Performance. 2.Asset Quality. 3.Balance Sheet Management. 4.Final Considerations.

3 Banorte at a Glance Branches ATM’s Loans (US$bn) 14% 20.4 Deposits (US$bn) 21.5 Market Share 1,073 3,985 Total 15% 12% DepositsLoans Non interest bearing Money Market Time 48% 29% 23% Commercial 36% 19% 14% 20% 11% Government Corporate Consumer Mortgage

4 Yearly Recap Net Income Stock Price P/BV Net Interest Margin ROA ROE Book Value Past Due Loan Ratio MILLION PESOS 2Q082Q07 1,722 5% 1, %20.5% 2.7%2.3% Efficiency Ratio 57.0%54.1% 7.5% 1.5% Reserve Coverage 141%131% % (2%) (22%)

5 Income Statement MILLION PESOS Net Interest Income Service Fees Recovery Non Interest Income Total Income Non Interest Expense Net Operating Income Non Operating Income, Net Income Tax Net Income Provisions Subs & Minority Interest FX & Trading 1Q08 QoQ 1%1% 9% (38%) (19%) 1%1% 1%1% 3%3% (1%) (22%) (30%) (6%) 25% 68% 5,179 1, ,961 7,140 (3,799) 3, (1,075) 1,928 (1,005) (34) YoY 2Q072Q08 4,247 1, ,943 6,190 (3,516) 2, (867) 1,722 (754) 57 1, ,989 7,221 (3,903) 3, (751) 1,806 (1,255) (57) 5,23223% 20% (35%) (53%) 2%2% 17% 11% 24% (10%) (13%) 5%5% 66% (200%) Recurring Net Income3%1,6911,7221,7461%1%

6 Quarterly Net Income MILLION PESOS Non-recurring Recurring 1,722 2Q072Q08 1,806 1, Q08 1,691 1,

7 Core Earnings MILLION PESOS 1,578 2Q072Q08 1,904 1Q08 2,137

8 Profitability 23.6% 2Q % 1Q % 2Q08 2.7% 2Q07 2.6% 1Q08 2.3% 2Q08 ROEROA

9 Cost to Income Ratio BILLION PESOS EFFICIENCY RATIO Non Interest Expense 2Q Q % 2Q06 57% 2Q07 54% 2Q QoQYoY 3%11%

10 Net Interest Margin vs CETES PERCENTAGE Cetes NIM 99% 100% Q062Q063Q064Q061Q072Q073Q074Q071Q082Q08

11 Core Deposits BILLION PESOS Mix Demand Time Demand Time Total Deposits 2Q072Q081Q % 38% 100% % 38% 100% 63% 37% 100% YoYQoQ 6% 7% 6% 3% 2% 3%

12 BILLION PESOS Performing Loan Portfolio 2Q071Q082Q08 QoQ Change YoY Commercial Corporate Government Total Consumer 22%4% 38%10% 41%39% 29%9%9% 27%6%6% Q071Q082Q

13 Consumer Loan Portfolio BILLION PESOS Car Loans Credit Card Loans Payroll Loans Consumer Mortgage Loans 2Q071Q082Q08 2Q071Q082Q %2%2% 36%8% 16%7%7% 27%6%6% 29%6%6% QoQ Change YoY

Subsidiaries

15 Recovery Bank Total 2Q071Q08 NET INCOME IN MILLION PESOS AUM IN BILLION PESOS 2Q08 2Q07 % Banorte’s Assets Acquired Assets (14%) 85% Investment Projects 100% Total 7% IPAB Portfolio (13%) 2Q QoQ (10%) YoY (21%)

16 Long Term Savings NET INCOME IN MILLION PESOS AFOREINSURANCEANNUITIES 7 2Q07 6 2Q08 Total 2Q Q Q Q Q07 0 2Q08 8 1Q Q Q Q08 QoQ (20%) YoY (50%)

17 Other Finance Companies NET INCOME IN MILLION PESOS Total 2Q Q08 71 LEASING AND FACTORING WAREHOUSING 2Q08 85 QoQ 19% YoY 11% 73 2Q Q Q08 3 2Q07 7 2Q08 5 1Q08

18 Brokerage and Microlending NET INCOME IN MILLION PESOS BROKER DEALERMICROLENDING 63 2Q Q Q08 (8) 2Q07 (7) 2Q08 (9) 1Q08

19 Banorte USA MILLION DOLLARS 2Q08 2Q07 INB Performing Loans Efficiency ROE Net Income (100%) Net Interest Margin 1, % 4.2% % 20.3% 41.3%42.1% 1Q08 1, % % 40.3% QoQ YoY 1% --- (13%) (1.8 pp) 1.8 pp 11% (0.3 pp) (11%) (3.4 pp) 0.8 pp

3. Asset Quality

21 Asset Quality Past Due Loans Loan Loss Reserves RESERVE COVERAGE PAST DUE LOAN RATIO Total Loan Portfolio BILLION PESOS 2Q071Q082Q % 141% 127% 2Q071Q082Q08 1.5% 1.6% 2Q071Q082Q08

22 Consumer Loans CREDIT CARD 6.7% 3.6% 5.9% 2Q071Q082Q08 MORTGAGE 1.5% 2.6% 2.3% 2Q071Q082Q08 PDL RATIO PAYROLL 2.0% 1.8% 1.7% 2Q071Q082Q08

23 Industry Trends TOTAL LOANS 1.5% BanorteBanks 2.8% 1.5% Banorte 3.0% Jun ‘07 Jun ‘08 Banks Source: Banxico

24 3.6% Banorte Banks 6.1% 6.7% Banorte 8.0% Industry Trends CREDIT CARDS Jun ‘07 Jun ‘08 Banks 2.6% BanorteBanks 2.4% 1.5% Banorte 2.8% MORTGAGES Banks Source: Banxico

4. Balance Sheet Management

26 Loans to Deposits 97% 4Q07 98% 3Q07 103% 1Q08 100% 2Q08 95% 2Q07 90% 1Q07 85% 4Q06

27 Wholesale Funding Time Deposits Money Market Interbank Loans 63% 24% 14% 62% 25% 13% 59% 21% 20% 61% 23% 16% 60% 27% 13% 52% 25% 23% 48% 38% 14%

28 Capitalization Tier 1 Tier 2 TOTAL 4Q071Q08 Percentage Tier % 3.6% 13.8% 74% 10.3% 4.3% 14.6% 70% 2Q % 5.0% 15.7% 68%

29 Reduction in Banorte’s cost of capital: Subordinated Debt Issuance October % 10 3,275 Average term (years) Cost Pesos (millons) % February ,554 March % 4,962 Spread over TIIE 326 bp 221 bp 79 bp June % 2, bp

5. Final Considerations

31 GFNorte vs. US Financials GFNORTE S&P 500 Stock Financial Index

32 Valuation vs. Peers P/BV 08e Itaú 3.0 1) Bradesco 3) 2.8 3)3) 6) Santander Chile 2.9 2)2) 2.3Bancolombia 5)5) 2.2Unibanco P/E 08e )GFNorte Banco do Brasil9.1 7) Average July 2008 (times)

33 Challenges Uncertain scenario. US Financial Crisis. Restrictive monetary policy. Economic slowdown and inflationary pressures. Competitive pressures new market players. Regulatory changes provisions. regulatory deposits.

34 Challenges Proactive balance sheet management. Funding costs. Capitalization. Focus on financial and fee income. Higher emphasis on risk analysis. Asset quality. New origination models. Increased risk-based pricing differentiation. Early collection.

35