11 GFNORTE February 2009.

2 Yearly Recap BILLION PESOS Net Income Net Interest Margin ROA ROE Book Value Past Due Loan Ratio Efficiency Ratio Reserve Coverage % 130.9% % % % 2.6%1.9% 22.7%19.7% 1.5%2.0% 3% 56.3%51.0% 11% 14%

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 Subsidiaries NET INCOME IN MILLION PESOS Bank Broker Dealer Long Term Savings Other Finance Companies Total 3Q08 QoQYoY 4Q074Q ,007 1,8021, ,685 1,215 (89) ,272 (33%) (253%) (10%) 102% (37%) (19%) (199%) 50% 84% (24%) Microlending(24)(23)(80)-- Holding-(9)6- -

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

6 PERCENTAGE Net Interest Margin 1Q072Q073Q074Q071Q082Q083Q084Q08 * Includes repos reclassified as assets in the balance sheet * 7.9 NIM 101% Cetes 79% Cetes NIM

7 Deposits BILLION PESOS Demand Time Total 4Q Core Deposits203 Money Market57 QoQ Change YoY 16% 18% 28% 16% 100% 19% 13% 8% 17% (15%) 3Q Q

8 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%

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

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

Loans to Deposits Ratio Total Loans / Total Deposits 97% 4Q07 98% 3Q07 103% 1Q08 99% 2Q08 95% 2Q07 90% 1Q07 97% 3Q08 93% 4Q08

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

13 Provisions As a % of Average Gross Loan Book 1.8% % % % Comerci

14 Past Due Loans Payroll Car Mortgage Credit Cards Commercial Corporate Government 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%

15 Banorte 2.0% 1.5% 1.7% 4Q073Q084Q08 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 Scotiabank 3.5% 2.9% 3.0% 4Q073Q084Q08 Source: CNBV Past Due Loans

16 Capitalization Tier 1 Tier 2 TOTAL % Tier 1 9.4% 4.9% 14.3% % 12.2%10.2% 5.1%3.6% 17.4%13.8% 70%74%

17 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: 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. Capitalization Strategy 2009

Recovery Bank Net Income MILLION PESOS Proprietary Assets Acquired Assets Investment Projects % 39% 10% 32% 37% 32% 18

Recovery Bank 19 Proprietary Assets Acquired Assets IPAB Investment Projects ASSETS UNDER MANAGEMENT Billion Pesos 67% 26% 3% 55% 37% 5% 3% Total: 61 Total: 62

20 AFORE INSURANCE ANNUITIES Total Non Recurring Recurring (42) 2007 Long Term Savings NET INCOME IN MILLION PESOS

21 BROKER DEALER OTHER FINANCE COMPANIES (30) 2007 (120) 2008 MICROLENDING Other Subsidiaries NET INCOME IN MILLION PESOS

22 Inter National Bank MILLION DOLLARS IN US GAAP Net Income (100%) Loan Loss Reserves 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 %

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

24 Risks & Opportunities Contain increase in delinquencies. Debt restructuring. Incentives for timely payments. Better collection. Avoid contamination to other segments. New risk models. Analyze behavioral patterns. Improved origination. Recovery of troubled loans. Comercial Mexicana. Asset Quality

25 Risks & Opportunities Loans Total loan growth of around 10%. Emphasis on SMEs, corporate and government. Cautious approach to consumer and mortgage segments. Deposits Total deposit growth of around 12%. Special emphasis on core deposits demand. Focus on government, corporate and commercial payrolls.

26 Capitalization Target BIS ratio of around 13-15%. Emphasis on strengthening Tier 1. Take advantage of AFORE window. Liquidity Funding pressures will remain. Minimize the use of interbank loans. Emphasis on retail deposits. Balanced growth between assets and liabilities. Expenses Growth in line with inflation. Merger of around 50 branches. Intensify cost containment measures. Risks & Opportunities

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