1. 11 GFNORTE February 2009.

2. 2 Yearly Recap BILLION PESOS Net Income Net Interest Margin ROA ROE Book Value Past Due Loan Ratio Efficiency Ratio Reserve Coverage 20082007 6.81 11% 130.9% 16.42 7.6% 18.77 6.8% 7.01 135.2% 2.6%1.9% 22.7%19.7% 1.5%2.0% 3% 56.3%51.0% 11% 14%

3. 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 1,682 223 2,028 7,784 3,736 4,048 (982) 2,007 (1,653) 1 123 4Q07 5,065 1,666 164 83 1,914 6,979 3,841 3,138 (694) 1,685 (921) (36) 4Q08 6,460 1,625 205 559 2,389 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, Net59319837589% 12% (3%) (8%) 354% 18% 14% 17% 11% (40%) (37%) 81% (800%) (37%)

4. 4 Subsidiaries NET INCOME IN MILLION PESOS Bank Broker Dealer Long Term Savings Other Finance Companies Total 3Q08 QoQYoY 4Q074Q08 58 111 60 2,007 1,8021,496 90 65 66 1,685 1,215 (89) 100 121 1,272 (33%) (253%) (10%) 102% (37%) (19%) (199%) 50% 84% (24%) Microlending(24)(23)(80)-- Holding-(9)6- -

5. 5 Cost to Income BILLION PESOS EFFICIENCY RATIO Total Income 4Q07 6.9 4Q08 8.8 Non Interest Expense3.84.4 55% 4Q07 48% 3Q08 27% 14% YoYQoQ3Q08 7.7 3.7 14% 17% 49% 4Q08

6. 6 PERCENTAGE Net Interest Margin 1Q072Q073Q074Q071Q082Q083Q084Q08 * Includes repos reclassified as assets in the balance sheet. 7.1 7.0 7.1 7.2 7.4 7.5 7.7 8.2 7.4 7.9 7.5 8.1 7.7 6.1 * 7.9 NIM 101% Cetes 79% Cetes NIM

7. 7 Deposits BILLION PESOS Demand Time Total 4Q08 128 75 260 Core Deposits203 Money Market57 QoQ Change YoY 16% 18% 28% 16% 100% 19% 13% 8% 17% (15%) 3Q08 108 67 241 174 67 4Q07 111 64 204 175 29

8. 8 BILLION PESOS Performing Loan Portfolio QoQ Change YoY Commercial Corporate Government Total Consumer 4Q073Q084Q08 193 230 240 4Q08 93 45 27 240 75 4Q07 75 37 18 193 63 3Q08 85 45 25 230 74 8%8%24% -%-%23% 6%6%50% 4%4%24% 1%1%18%

9. 9 Consumer Loan Portfolio BILLION PESOS Car Credit Card Payroll Consumer Mortgage YoY Change QoQ 4Q073Q084Q08 63 74 75 8(3%)5% 15(8%)9% 7(6%)10% 751%18% 456%26% 78 1416 67 6374 3643 4Q084Q073Q08

10. 10 Loan Portfolio Breakdown PERCENTAGE 4Q074Q083Q08 Mortgage Credit Card Payroll /Personal Car Commercial Corporate Government 19 4 7 3 39 19 9 3 7 3 37 20 11 19 3 6 3 39 19 11

11. 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. 12 Asset Quality BILLION PESOS Past Due Loans Loan Loss Reserves RESERVE COVERAGE PAST DUE LOAN RATIO Total Loan Portfolio 4Q073Q084Q08 4.9 6.7 242 2.94.0 3.84.9 196233 135% 131% 123% 4Q073Q084Q08 2.0% 1.5% 1.7% 4Q073Q084Q08

13. 13 Provisions As a % of Average Gross Loan Book 1.8% 2007 1.1% 2006 3.2% 2008 2.6% Comerci

14. 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% 4Q08 12.4% 2.8% 2.2% 1.4%1.7% 0% 1.6% 2.0% 0%

15. 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. 16 Capitalization Tier 1 Tier 2 TOTAL % Tier 1 9.4% 4.9% 14.3% 200620072008 65% 12.2%10.2% 5.1%3.6% 17.4%13.8% 70%74%

17. 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

18. Recovery Bank Net Income 2007 766 2008 701 MILLION PESOS Proprietary Assets Acquired Assets Investment Projects 2007 2008 51% 39% 10% 32% 37% 32% 18

19. Recovery Bank 19 Proprietary Assets Acquired Assets IPAB Investment Projects 20072008 ASSETS UNDER MANAGEMENT Billion Pesos 67% 26% 3% 55% 37% 5% 3% Total: 61 Total: 62

20. 20 AFORE 82 2007 INSURANCE 170 2007 ANNUITIES 136 2008 94 2008 17 2008 243 Total 2007 388 2008 354 178 136 Non Recurring Recurring (42) 2007 Long Term Savings NET INCOME IN MILLION PESOS

21. 21 BROKER DEALER OTHER FINANCE COMPANIES 288 2007 183 2008 271 2007 336 2008 (30) 2007 (120) 2008 MICROLENDING Other Subsidiaries NET INCOME IN MILLION PESOS

22. 22 Inter National Bank MILLION DOLLARS IN US GAAP Net Income (100%) Loan Loss Reserves Change 2007 23.7 4.9 2008 27.3 5.3 15% 8% Net Interest Income58.865.9 12% Non Interest Income11.315.6 37% Total Income70.281.4 16% Non Interest Expense29.234.6 19% Demand Deposits712617 (13%) Performing Loans9661,108 15% Past Due Loans1623 39% Time Deposits694762 10%

23. 23 Reserve Coverage PDL Ratio FINANCIAL RATIOS % Change pp 2007 60.1 1.6 2008 62.4 2.0 2.3 0.3 NIM4.44.2 (0.2) ROE21.520.4 (1.0) ROA1.71.6 (0.1) Efficiency Ratio41.642.5 0.9 Leverage Ratio7.48.0 0.7 Capitalization Ratio11.312.5 1.2 Inter National Bank

24. 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. 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. 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

27. 27 www.banorte.com/ri investor@banorte.com