1 Banorte Investor Day Banorte USA November 16, 2007

2 Index 1.Introduction 2.US Denominated Deposits 3.Inter National Bank 4.International Business 5.Banorte Securities 6.Remmittances

3 To be a cross-border financial group offering integrated financial products and services to a diverse group of customer segments. To be a dual-currency financial group which offers a wide range of products and services in U.S. Dollars and Mexican Pesos. Grupo Financiero Banorte’s Vision

4 Mexican banking system USD denominated deposits: US$14 billion. Mexican Nationals deposits in abroad: US$35 billion. Banorte’s strategy: Follow our Mexican customer and support their investments and business operations in the U.S. Dual-Currency Opportunity

5 Private Banking / Wealth Management / Brokerage Services Provide USD denominated financial investment products. Banorte Securities International. Commercial / Retail Banking Provide financial products and services. Facilitate cross-border transactions for businesses and individuals. Remittances Provide remittance services to the non/under-banked immigrant population living in the U.S. Banorte’s Expansion Strategy in USA Three-pronged strategy for US Expansion :

6 Structure Banorte USA Remittances U.S. Bank Brokerage/ Investments International Business

7 2. Dollar Denominated Deposits

8 Dollar Denominated Deposits Banorte Dollar Deposits Demand Time Deposits Total Mexico INB Total USA Total USD MILLIONS YoYSep ‘06Sep ‘07 BSI – Onshore BSI - Mexico Accounts Dec ‘06 Enlace Express (2%) % % 1,5211,4801,5683% 1,0601,0251,036(2%) 2,5822,5052,6031% 1,0341,3631,26923% % 1,0521,4051,34428% 3,6343,9113,9479%

9 3. Inter National Bank

10 Benefits of INB Acquisition INB is a well-managed institution. Serving the high-growth border region of Texas with Mexico.  Growth drivers in the region: Construction and real-estate. Bilateral trade. Other commercial activities. Serving a market with a large middle to high income Hispanic population. INB management has been retained. Continue to operate the bank for the coming years. Previous Board and shareholders are still involved in the operations. Revenue synergies with Banorte and customer referrals for INB.

11 Free fund transfers between savings and checking accounts. Free ATM withdrawals and account balance inquiries at both banks’ ATMs. Referrals by Banorte to INB = 3,200+ new accounts with US$45 million in balances Acceptance of checks for deposit with next day availability in both currencies at both institutions. Banorte Securities (BSI) offices have been opened at INB banking centers in McAllen & El Paso. Benefits to Customers

12 New Products & Services Mortgages to Americans purchasing Mexican Resort Properties US$40 million funded to date with US$38 million at closing. Potential: 2008-US$150, 2009 US$250, 2010 US$350 million Loans secured by investment portfolios held by customers at BSI in dollars or at Banorte in pesos US$5 million funded to date with US$20 million at closing. Potential: 2008 US$60, 2009 US$100, 2010 US$150 million. Banorte Securities offices have been introduced in INB offices $75 million funded to date in new investment accounts. Potential: 2008 US$125, 2009 US$185, 2010 US$250 million Competitive Foreign Exchange Platform 2007 Revenues = 3x 2006 Revenues.

13 New Products & Services In Development: INB issued credit card program to be launched in 1Q, E US$15 million. 2009E US$25 million. 2010E US$50 million. Trade financing loans programs to be offered in late E US$50million. 2009E US$125 million. 2010E US$200 million. Enhanced treasury management services Lockbox, remote deposit capture and ACH services. Potential: Increase in non-interest income.

14 Potential New Markets New branches to be opened in 1Q08: Laredo Brownsville Potential New Markets Texas: San Antonio / Houston / Dallas. San Diego, California. Details of model branch: Approximately 4,100 sqf facility. 3 drive-thru lanes & drive-up ATM.

15 INB Growth Total Assets DepositsLoans Merger Announcement Date of Merger 36% 40% 11% 15% 12% Current

16 9M07 Financial Highlights 9M07 Loans Efficiency Ratio ROE Net Earnings (70%) 22% Deposits $ % $ % 22.8% $737 $ % 42.9% 4.7% MILLION DOLLARS 9M06YoY Net Interest Margin $1,034 $1,267 27% 23% ROA 1.76% 1.79%

17 Profitability ROA 1.83% % 2004 ROE 21.6% % % % % Sep ‘ % Sep ‘07

18 4. International Business

19 International Business Net Interest Margin Non Interest Income Total income Direct Expenses Earnings from Operations Corporate expenses Net Earnings (Pre tax) Mexico MILLION DOLLARS YoY Sep ‘06 Sep ‘07 Dec ‘ % % % % % 454 (1%) %

20 5. Banorte Securities International, Ltd.

21 Private Banking/ Wealth Management Growth Strategy: Organically. Focused on Hispanic Population:  Mexican nationals.  Mexican-Americans residing in the US. BSI markets its services to: High net worth individuals in Mexico. Hispanics/US citizens and residents. Currently, BSI has approximately US$1.1 billion in AUM.

22 Synergies INB and Banorte Securities clients will benefit from expanded services from both Institutions: Banorte Securities will refer clients to INB, seeking bank accounts not available at BSI. INB will refer clients to Banorte Securities that seek brokerage accounts not available at Inter National Bank. INB can provide loans to BSI customers wishing to use their brokerage accounts as collateral.

23 MILLION DOLLARS Revenues Expenses Earnings from Operations Investment Earnings Taxes Net Earnings Banorte Securities Results Sep ‘06Dec ‘06YoYSep ‘ % % % (21%) (0.5) (0.8) (1.0) 95% %

24 Highlights Sep ‘07 Earnings from Operations 78% ROE AUM 3% Efficiency Ratio $1,078 $1.2 $1,111 $ %19.1% 76.4%66.5% MILLIONS DOLLARS Sep ‘06YoY

25 6. Remittances: Banorte’s Distribution System & UniTeller

26 (1.7%) Banks (2.8%) 5 % Sep-06 vs. Sep % Non Banks w/o Banorte 1.4% Market Growth Banorte Growth in Family Remittances Banorte continues to grow well above the market and other Mexican banks.

27 Remittances Market Banorte: strong payer of remittances to customers in Mexico Payment agreements:  30+ U.S. licensed remittance companies  3 major U.S. banks (BofA, Chase, and Wells Fargo). 4 million remittances paid in 2006 = US$1.6 Billion (7% Mkt Share). 2007E transactions = 4.3 million. Banking the beneficiaries of remittances. Over 69,000 Enlace Express Accounts (without fees). UniTeller will benefit from: Additional financial resources Correspondent banking relationships in U.S. and other parts of the world.

28 Integrating the Unbanked 5,600 33, , Number of Customers Sep ,600 Enlace Express: Quasi-equivalent to free checking in the U.S. Debit card-based. No minimum balances or monthly fees.

29 Acquisition of 100% of UniTeller: January 18th, Background: Based in New Jersey. US$1.1 billion in transfers per year. Agent Network in the US: 1,000 collection agents in 41 States. Strong payment network:  Over 4,000 payment points in 19 countries.  Presence in Mexico’s rural areas - complement to Banorte’s network. Attractive technological infrastructure:  Enough capacity to support immediate growth. Acquisition

30 Opportunities & Strategy STRATEGY: Vertical Integration Acquisition of UniTeller will streamline Banorte’s remittance services. Access to a large number of under-banked clients on both sides of the border – additional business opportunities. Promote remittances to Banorte, and banking of beneficiaries. Complements Banorte’s bancarization efforts.

31 Account Link - deposits to an account. Product Improvements: Discounts on remittances from U.S. from Uniteller and Banorte. Payment options to Banorte accountholders. Marketing campaigns in conjunction with other U.S. transmitters to promote remittances. New Products & Services

32 Certain statements in this document are “forward-looking statements”. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors.

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