1 2Q06 Results August, 2006

2 1.2Q06 Results. 2.Stock Performance. 3.Perspectives of the Banking Sector. Contents

3 Highlights MILLION PESOS 19%25% 1H061H05 3,242 28% 13% % 48%19% % 26% 2, %36% 2,4222,813 16% 37%26% Performing Loan Growth Net Income ROE w/o one offs Stock Price P/BV Net Interest Margin Tax Rate Net Income w/o one offs ROE

4 Evolution of Profits 612 2Q04 2,114 2Q05 1,368 1Q06 1,445 2Q06 Millions of pesos VAT 704 AHMSA 222 IPAB (106) 1,294 One Offs 820

5 ROE and ROA ROE ROA 1H05 3%3%3% 1H06 26% 1H06 28% 1H05

6 Net Interest Margin vs CETES CETES Margen % Percentages 1Q042Q043Q044Q041Q052Q053Q054Q051Q062Q % Average CETES: 1H05: 9.34% 1H06:7.36%

7 Non Interest Expense BILLION PESOS EFFICIENCY RATIO Non Interest Expense 1H H % 1H05 56% 1H06 10% Inertial 55% Business volume0.25 Solida employees0.19 Investment program

8 Core Deposits BILLION PESOS Demand Time Total Mix Demand Time Deposits2Q042Q062Q % 36% 100% % 36% 100% % 36% 100% 17%5% 18% 16% 6% 3%

9 BILLION PESOS Performing Loan Portfolio Commercial Corporate Government Total Consumer 2Q051Q062Q06 Variation 2Q051Q062Q %12% 34%1% (3%)(11%) 25%6%6% 34%9%9% QoQYoY

10 Performing Consumer Loan Portfolio Consumer Car loans Credit Card Payroll loans Mortgage BILLION PESOS 2Q051Q062Q06 2Q051Q062Q %3%3% 52%14% 70%12% 34%9%9% 9%9% Variation QoQ YoY

11 MORTGAGE LOAN ORIGINATION Billion Pesos CAR PAYROLL AND PERSONAL Consumer Loans H051H H051H H051H06 79% 7% 54%

12 Asset Quality Past Due Loans Loan Loss Reserves RESERVE COVERAGE PAST DUE LOAN RATIO Total Loan Portfolio BILLION PESOS 2Q051Q062Q % 161% 171% 2Q051Q062Q06 1.6% 1.8% 1.6% 2Q051Q062Q06

13 Capitalization Ratio Tier 1 Tier 2 TOTAL Percentage Tier 1 2Q042Q052Q % 3.3% 17.3% 81% 10.7% 3.8% 14.5% 74% 12.6% 2.5% 15.2% 83%

14 Net Income Million Pesos Recovery Bank 1H H H Q032Q04 2Q05 Banorte IPAB Q06 59 ASSETS UNDER MANAGEMENT

15 Face Value (Billions of Pesos) Total Price Paid (cents) Type of Asset Portfolio Real Estate Total Investment: Ps$ 1.46 billion Assets Purchased in 1H06

16 Million Pesos AforeInsuranceAnnuities Total Net Income of Long Term Savings H051H H051H06 36% H051H06 871% 45% H051H06 57%

17 BROKERAGEFACTORING H051H H051H06 31% 18% LEASINGWHAREHOUSING H051H H051H06 41% 27% BONDING H051H06 36% Net Income of Other Companies Million Pesos

18 New Products

19 Ya Bájale 78,222 1H05 1H06 CLIENTS Number BALANCE Billions of pesos 18, % 1,532 1H05 1H %

20 Banorte Fácil 546,857 1H05 1H06 1,538 1H05 1H06 214, % % CLIENTS Number BALANCE Billions of pesos

21 Enlace Express Daily transactions in branches: 14,400 Amount paid daily: US $6 million Amount per transaction: US $417 43,461 1H05 1H H05 1H06 21, % % CLIENTS Number BALANCE Millions of pesos

22 100,839 1H05 1H06 CLIENTS Number BALANCE Billions of Pesos H05 1H06 23, % % New Initiatives

23 Créditos ProNegocio 27,320 1H05 1H H05 1H06 5, % % CLIENTS Number BALANCE Millions of pesos

24 Developments in Banorte USA

25 Current joint services. Account transfers between Banorte and INB with no costs. Free cash withdrawals and inquiries in ATM’s of both banks. Check deposits in both banks without commission with availability of funds in 24 hours. Banorte USA Developments Authorization process for INB and Uniteller. 4Q06 Process according to plans.

26 2. Stock Performance

27 Stock Performance in 1H06 1H IPC 8%8% Banorte 18% IPC 102% Banorte 128%

Dec-05 Jan-06 Feb-06Mar-06 Apr-06 May-06 Jun-06 Jul-06 Stock Performance YTD IPC: 110 GFNorte: 130 Jan-Jul 2006 GFInbur: 97

29 Stock’s Daily Turnover Millions of dollars 1H031H H H CAGR: 95%

30 Market’s Most Active Stocks Average daily volume in millions of dollars 1H06 Stock Volume 1)America Móvil55.5 2)Cemex33.6 3)Wal-Mart30.9 4)Grupo México27.6 5)Telmex26.7 6)Televisa )Banorte )Geo9.4 9)ICA8.1 10)Femsa7.37.3

31 Market Capitalization 1,792 1,420 2Q032Q04 3,365 2Q05 CAGR: 49% 4,660 2Q06 Billions of dollars

Comparison with Emerging Markets Market cap in billions of dollars July 2006 ROE P/BV Unibanco 9.2 Santander Chile 7.4 Banco de Chile 4.3 Itaú 31.6 Bradesco 30.4 Polonia 11.1 Inbursa : 1.8 Premium Discount Turquía : 5.5

33 3. Perspectives of the Banking Sector

34 Evolution of Bank Loans % 1Q04 al 1Q06 33% 115% 61% 57% Commercial Consumer Mortgages Total

35 Comparison with Latin America 34%34% 32% 11%11% 23% 69% ChileBrasilPromedioArgentinaMéxico TOTAL LOANS TO THE PRIVATE SECTOR % OF GDP Banks Other 11%11% 12%12%

36 Challenges for 2H06 Strengthen the capital base. Execution of branch development program. Aqcuisitions in Banorte USA. Fuel growth with control of operating expenses.

37