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

2. 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% 52.30 3.73 7.1% 12% 2.75 7.9% 1,928 46.14 2.7%2.6% 24.0%23.2% 14.0316.79 1.4%1.6% 20%16%

3. 3 Quarterly Net Income MILLION PESOS 1,685 4Q07 1,928 1Q08 1,663 1Q07 Non-recurring Recurring 237 1,691 286 1,377

4. 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%) 1,573 190 106 92 1,961 7,140 (3,799) 3,341 702 (1,075) 1,928 (1,005) (34) 1,418 116 93 476 2,104 5,925 (3,469) 2,456 345 (926) 1,663 (261) 49 36%5,1793,821

5. 5 Non Interest Expense BILLION PESOS EFFICIENCY RATIO Non Interest Expense 1Q07 3.5 1Q08 3.8 10% 60% 1Q06 58% 1Q07 53% 1Q08

6. 6 Net Interest Margin vs CETES PERCENTAGE CETES Margin 1Q062Q063Q064Q061Q072Q073Q07 99% 107% 4Q07 7.6 7.1 7.5 7.0 7.1 7.2 7.4 7.9 8.0 7.7 7.5 7.7 8.2 1Q08 7.4 7.9

7. 7 Core Deposits BILLION PESOS Mix Demand Time Demand Time Total Deposits1Q06 1Q081Q07 100% 81 45 126 64% 36% 21%18%27% 95 57 152 63% 37% 9% 11% 103 63 166 62% 38%

8. 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% 76 39 18 199 67 75 37 18 193 63 62 26 15 155 52 155 193 199

9. 9 Performing Consumer Loan Portfolio BILLION PESOS QoQ Change YoY Car Loans Credit Card Loans Payroll Loans Consumer Mortgage Loans 1Q074Q071Q08 1Q074Q071Q08 52 63 67 3%11% 8%39% 2%20% 5%29% 5%32% 7 15 6 67 38 7 14 6 63 36 7 11 5 52 29

10. 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. 11 Credit Cards THOUSANDS OF NEW CARDS 1Q07 1Q08 1Q06 147 185 77 91% 26%

12. 12 Capitalization Ratio Tier 1 Tier 2 TOTAL Percentage Tier 1 PERCENTAGE 10.3% 4.3% 14.6% 1Q08 70% 1Q06 13.0% 2.6% 15.6% 83% 1Q07 11.0% 4.9% 15.9% 69%

13. 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 1Q074Q071Q08 2.3 3.4 159 2.9 3.8 196 3.2 4.0 203

14. 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. 15 Subsidiaries

16. 16 Recovery Bank Total 1Q07 131 1Q08 167 NET INCOME IN MILLION PESOS AUM IN BILLION PESOS 1Q08 1Q07 7 49 8 51Acquired Loans Assets % 14% 4% 1.32.6Projects 100%

17. 17 Long Term Savings NET INCOME IN MILLION PESOS AFOREINSURANCEANNUITIES Total 1Q06 154 1Q07 132 1Q08 79 46 26 1Q061Q07 63 46 1Q061Q07 44 59 1Q061Q07 1Q08 33 1Q08 8 39 ROE: 27% ROE: 5% ROE: 16%

18. 18 Other Finance Companies FACTORING & LEASING WAREHOUSING Total NET INCOME IN MILLION PESOS 54 60 66 ROE: 26% 1Q061Q071Q08 3 4 5 ROE: 18% 1Q061Q071Q08 1Q06 61 1Q07 74 1Q08 71

19. 19 Brokerage and Microlending BROKERAGEMICROLENDING NET INCOME IN MILLION PESOS 41 63 1Q061Q071Q08 71 5 (1) 1Q06 1Q07 1Q08 (9) ROE: 27%

20. 20 Banorte USA MILLION DOLLARS 1Q08 1Q07 INB Performing Loans Efficiency ROE Net Income (70%) Net Interest Margin 1,025 4.2% 4.6 40.3% 22.1% 891 3.9 22.9% 42.8% 4.2% 11% 15% 11% 18%

21. 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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