1 GFNorte´s 1Q07 Results Conference call April 27, 2007

2 New accounting standards Careful consideration should be taken when comparing 1Q07 results with respect to previous quarters as new regulations and accounting standards issued by the National Banking and Securities Commission (CNBV) in 2006 went into effect in January of this year. As a result, reported 1Q07 figures are not fully comparable with previous quarters. Where applicable, GFNorte has provided pro-forma comparisons.

3 New accounting standards Change Impact Deferral of fees charged on new loans. 89% in Commissions Charged. 20 bp NIM. 123 bp in efficiency ratio. Non financial companies consolidated. 25 bp in efficiency ratio. Financial derivatives marked to market. 54 bp in efficiency ratio. Income of Portfolios Acquired: from Non Interest Income to Non Operating Income. 140 bp in efficiency ratio. 4Q06 excess loan loss reserves credited vs. income statement in 1Q pp in reserve coverage.

4 GFNorte Highlights MILLION PESOS Performing loans growth Past due loan ratio Reserve Coverage 1Q07 Net Income ROE Stock Price EPS P/BV 1Q06 Net Interest Margin Tax Rate 23%24% 1, % 14% % 102%70% % 1.6% 171% 1.4% 149% 14% 24.0% 1, % 37%

5 GFNorte´s Income Statement MILLION PESOS Net Interest Income Services Recovery Foreign Exchange Trading Non Interest Income Total Income Non Interest Expense Net Operating Income Non Operating Income (Expense) Net Income Tax Net Income Loan loss and loss sharing provisions Subsidiaries and minority interest 1Q06Change1Q07 3,729 2,052 3,430 2, ,254 1, % 10% (71%) 47% (5%) (26%) 4% 8% 5,781 (3,387) 5,580 (3,123) (3%) 6,605% 23% 14% (34%) (38%) 2, (903) 1,623 (255) 50 2,457 5 (734) 1,423 (386) 81

6 ROE and ROA ROEROA 26% 1Q06 27% 1Q05 24% 1Q07 1Q05 2.5% 2.8% 1Q06 2.7% 1Q07

7 Net Interest Margin vs CETES PERCENTAGE 1Q052Q053Q054Q052Q063Q064Q061Q06 1Q07 CETES NIM % 101%

8 NIM Variation PERCENTAGE 7.9% (0.2%) 7.1% 4Q061Q07 Loan commissions INBGovernment loans Calendar Effects

9 Non Interest Expense BILLION PESOS EFFICIENCY RATIO Non Interest Expense 1Q Q % 61% 1Q05 55% 1Q06 58% 1Q07 55% Changes to Accounting Standards 340 bp

10 Core Deposits BILLION PESOS Mix Demand Time Demand Time Total Deposits1Q051Q071Q %15% 8%10%9% YoY Change w/o INB 18%27%16%13% 63% 37% 100% 64% 36% 100% 63% 37% 100%

11 BILLION PESOS Performing Loan Portfolio 1Q064Q061Q07 QoQ Variation YoY Commercial Corporate Government Total Consumer 1Q064Q061Q %45% 4%16% 36%(1%) 6%24% 5%18%

12 Performing Consumer Loan Portfolio BILLION PESOS Consumer Car loans Credit Card Payroll loans Mortgage 1Q064Q061Q07 QoQ Variation YoY 1Q064Q061Q %5% 10%50% 2%27% 5%18% 5%12% % YoY Change w/o Extras 28%

13 Asset Quality Past Due Loans Loan Loss Reserves 1Q064Q061Q07 RESERVE COVERAGE PAST DUE LOAN RATIO 1Q064Q061Q071Q064Q061Q07 Total Loan Portfolio BILLION PESOS % 171% 172% 1.4% 1.6% 1.4%

14 Reserve Reversal Balance 1Q07 Balance 4Q06 (464) 3,321 3,576 New Reserves Performing loans PDL’s Charge offs (499) Evolution of Loan Reserves MILLION PESOS

15 Banking Sector Capitalization Ratio Tier 1 Tier 2 TOTAL 1Q051Q061Q07 Percentage Tier % 4.9% 15.9% 69% 12.5% 3.6% 16.2% 77% 13.0% 2.6% 15.6% 83% PERCENTAGE