1 GFNORTE 4Q08 Results Conference Call January 30, 2008.

2 Yearly Recap Net Income Net Interest Margin ROA ROE Book Value Past Due Loan Ratio BILLION PESOS Efficiency Ratio Reserve Coverage % 130.9% % % % 2.6%1.9% 22.7%19.7% 1.5%2.0% 3% 56.3%51.0%

3 Income Statement MILLION PESOS Net Interest Income Service Fees Recovery Non Interest Income Total Income Non Interest Expense Net Operating Income Income Tax Net Income Provisions Subs & Minority Interest FX & Trading QoQYoY3Q08 5,756 1, ,028 7,784 3,736 4,048 (982) 2,007 (1,653) Q07 5,065 1, ,914 6,979 3,841 3,138 (694) 1,685 (921) (36) 4Q08 6,460 1, ,389 8,849 4,369 4,480 (592) 1,272 (2,983) (7) 28% (2%) 25% 573% 25% 27% 14% 43% (15%) (24%) 224% (81%) Non Operating Income, Net % 12% (3%) (8%) 354% 18% 14% 17% 11% (40%) (37%) 81% (800%) (37%)

4 7, GFNorte’s Recurring Net Income 6, MILLION PESOS 6,

5 Non Recurring Items 2008 MILLION PESOS 20,924 21,908 21,376 7,662 7, (240) (665) Recurring Net Income Reported Net Income SECURITIES VISA/LEHMAN 346 INDEVAL COMERCIAL MEXICANA BROKER DEALER PROVISIONS (994) CORPORATE LOANS (42) BRANCH MERGERS (47)

6 Non Interest Expense BILLION PESOS EFFICIENCY RATIO Total Income 4Q Q Non Interest Expense % 4Q07 48% 3Q08 27% 14% YoYQoQ3Q % 17% 49% 4Q08

7 PERCENTAGE 1Q072Q073Q074Q071Q082Q083Q08 Net Interest Margin vs CETES 4Q08 * Includes repos reclassified as assets in the balance sheet * NIM 101 % Cetes 79% Cetes NIM

8 Deposits Demand Time Total 4Q Core Deposits203 Money Market57 BILLION PESOS QoQ Change YoY 16% 18% 32% 16% 100% 19% 13% 9% 17% (15%) 3Q Q

9 BILLION PESOS Performing Loan Portfolio QoQ Change YoY Commercial Corporate Government Total Consumer 4Q073Q084Q Q Q Q %8%24% -%-%23% 6%6%50% 4%4%24% 1%1%18%

10 Performing Consumer Loan Portfolio BILLION PESOS Car Loans Credit Card Loans Payroll Loans Consumer Mortgage Loans YoY Change QoQ 4Q073Q084Q (3%)5% 15(8%)9% 7(6%)10% 751%18% 456%26% Q084Q073Q08

11 Loan Portfolio Breakdown 4Q074Q083Q08 Mortgage Credit Card Payroll /Personal Car Commercial Corporate Government PERCENTAGE

Loans to Deposits Ratio TOTAL LOANS /TOTAL DEPOSITS 97% 4Q07 98% 3Q07 103% 1Q08 99% 2Q08 95% 2Q07 90% 1Q07 97% 3Q % 4Q08

13 Asset Quality Past Due Loans Loan Loss Reserves RESERVE COVERAGE PAST DUE LOAN RATIO Total Loan Portfolio BILLION PESOS 4Q073Q084Q % 131% 123% 4Q073Q084Q08 2.0% 1.5% 1.7% 4Q073Q084Q08

14 Provisions 1.8% % % 2008 As a % of Average Gross Loans 2.6% Comerci

15 Past Due Loans Payroll Car Mortgage Credit Cards Commercial Corporate Government 15 4Q07 2.1% 1.8% 2.3% 5.6% 3Q08 2.2% 2.0% 1.6% 9.0% 4Q % 2.8% 2.2% 1.4%1.7% 0% 1.6% 2.0% 0%

Banorte 2.0% 1.5% 1.7% 4Q073Q084Q08 Past Due Loans BBVA - Bancomer 3.2% 2.3% 2.9% 4Q073Q084Q08 Banamex - Citi 4.1% 2.8% 3.9% 4Q073Q084Q08 HSBC 6.2% 4.0% 5.2% 4Q073Q084Q08 Santander 3.1% 1.8% 2.6% 4Q073Q084Q08 Scotia 3.5% 2.9% 3.0% 4Q073Q084Q08 Source: CNBV 16

17 Capitalization Tier 1 Tier 2 TOTAL % Tier % 4.9% 14.3% % 12.2%10.2% 5.1%3.6% 17.4%13.8% 70%74%

Capitalization Strategy for 2009 Objectives. Maintain robust regulatory capitalzation ratios.  Reinforce our future growth capacity. Main uses of capital. Increase in risk weighted assets. Payment of old subordinated debt.  February 17: US 300 million.  Reinforce Banorte’s credibility as an issuer in global markets.  Main sources of capital. Reinvestment of profits. Issuance of new subordinated debt in local markets. 18

Subsidiaries 19

Recovery Bank Net Income MILLION PESOS AUM BILLION PESOS Banorte’s Assets Acquired Assets % (17%) 44% 23Investment Projects 50% 6162Total 2% 22IPAB 0% 20

Long Term Savings MILLION PESOS AFORE INSURANCE ANNUITIES Total Non Recurring Recurring (42) % 43% 21

Subsidiaries BROKERAGE HOUSE OTHER FINANCE COMPANIES NET INCOME IN MILLION PESOS (30) 2007 (120) 2008 MICROLENDING (36%) 24% 22

23 Inter National Bank Net Income (100%) Loan Loss Reserves MILLION DOLLARS IN US GAAP Change % 8% Net Interest Income % Non Interest Income % Total Income % Non Interest Expense % Demand Deposits (13%) Performing Loans9661,108 15% Past Due Loans % Time Deposits %

24 Inter National Bank Reserve Coverage PDL Ratio FINANCIAL RATIOS % Change pp NIM (0.2) ROE (1.0) ROA (0.1) Efficiency Ratio Leverage Ratio Capitalization Ratio

25