1 GFNorte’s 1Q08 Results Conference Call April 25, 2008.

2 Yearly Recap Performing Loan Growth Net Income Stock Price P/BV Net Interest Margin ROA ROE Book Value Past Due Loan Ratio MILLION PESOS 24%29% 1Q081Q07 1,663 11% % 12% % 1, %2.6% 24.0%23.2% %1.6% 20%16%

3 Quarterly Net Income MILLION PESOS 1,685 4Q07 1,928 1Q08 1,663 1Q07 Non-recurring Recurring 237 1, ,377

4 YoY1Q071Q08 Income Statement MILLION PESOS Net Interest Income Service Fees Recovery Trading Non Interest Income Total Income Non Interest Expense Net Operating Income Non Operating Income, Net Income Tax Net Income Provisions Subs & Minority Interest FX 11% 64% 14% (81%) (7%) 21% 10% 36% 103% 16% 284% (170%) 1, ,961 7,140 (3,799) 3, (1,075) 1,928 (1,005) (34) 1, ,104 5,925 (3,469) 2, (926) 1,663 (261) 49 36%5,1793,821

5 Non Interest Expense BILLION PESOS EFFICIENCY RATIO Non Interest Expense 1Q Q % 60% 1Q06 58% 1Q07 53% 1Q08

6 Net Interest Margin vs CETES PERCENTAGE CETES Margin 1Q062Q063Q064Q061Q072Q073Q07 99% 107% 4Q Q

7 Core Deposits BILLION PESOS Mix Demand Time Demand Time Total Deposits1Q06 1Q081Q07 100% % 36% 21%18%27% % 37% 9% 11% % 38%

8 BILLION PESOS Performing Loan Portfolio 1Q074Q071Q08 QoQ Change YoY Commercial Corporate Government Total Consumer 1Q074Q071Q08 2%23% 5%48% (2%)15% 3%3%29% 5%29%

9 Performing Consumer Loan Portfolio BILLION PESOS QoQ Change YoY Car Loans Credit Card Loans Payroll Loans Consumer Mortgage Loans 1Q074Q071Q08 1Q074Q071Q %11% 8%39% 2%20% 5%29% 5%32%

10 NEW LOANS IN BILLION PESOS Consumer Loans AUTO 1,267 1,597 1,589 PAYROLLS & PERSONAL 1,361 1,411 1,612 1Q061Q07 1Q08 1Q061Q071Q08 26% (1%) 4% 14% 1Q071T081Q06 2,402 2,902 2,459 21% (2%) MORTGAGES

11 Credit Cards THOUSANDS OF NEW CARDS 1Q07 1Q08 1Q % 26%

12 Capitalization Ratio Tier 1 Tier 2 TOTAL Percentage Tier 1 PERCENTAGE 10.3% 4.3% 14.6% 1Q08 70% 1Q % 2.6% 15.6% 83% 1Q % 4.9% 15.9% 69%

13 Asset Quality Past Due Loans Loan Loss Reserves RESERVE COVERAGE PAST DUE LOAN RATIO Total Loan Portfolio BILLION PESOS 127% 149% 131% 1Q074Q071Q08 1.6% 1.4% 1.5% 1Q074Q071Q08 1Q074Q071Q

14 Consumer Loans Asset Quality CREDIT CARDS 5.9% 4.3% 5.6% 1Q074Q071Q08 MORTGAGES 2.3% 1Q074Q071Q08 AUTO 1.9% 2.0% 1Q074Q071Q08 PAYROLLS 1.9% 1.6% 2.0% 1Q074Q071Q08 PAST DUE LOAN RATIO

15 Subsidiaries

16 Recovery Bank Total 1Q Q NET INCOME IN MILLION PESOS AUM IN BILLION PESOS 1Q08 1Q Acquired Loans Assets % 14% 4% Projects 100%

17 Long Term Savings NET INCOME IN MILLION PESOS AFOREINSURANCEANNUITIES Total 1Q Q Q Q061Q Q061Q Q061Q07 1Q Q ROE: 27% ROE: 5% ROE: 16%

18 Other Finance Companies FACTORING & LEASING WAREHOUSING Total NET INCOME IN MILLION PESOS ROE: 26% 1Q061Q071Q ROE: 18% 1Q061Q071Q08 1Q Q Q08 71

19 Brokerage and Microlending BROKERAGEMICROLENDING NET INCOME IN MILLION PESOS Q061Q071Q (1) 1Q06 1Q07 1Q08 (9) ROE: 27%

20 Banorte USA MILLION DOLLARS 1Q08 1Q07 INB Performing Loans Efficiency ROE Net Income (70%) Net Interest Margin 1, % % 22.1% % 42.8% 4.2% 11% 15% 11% 18%

21 Challenges 2008 Adequate reading of uncertain environment: Reduced liquidity in international markets. Slower economic growth and inflation. Asset quality & profitability. Initiatives: Alliance with Comercial Mexicana. Adjustment of microlending business model. Infrastructure expansion.

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