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GFNORTE 1Q09 Results

GFNORTE 1Q09 Results. Conference Call April 30, 2009. (16%). (3%). 15%. Yearly Recap. BILLION PESOS. 1Q08. 1Q09. Net Income. 1,928. 1,611. Recurring Net Income. 1,653. 1,611. 11%. ROE. 23.2 %. 16.8 %. ROA. 2.6 %. 1.1 %*. 51.5 %. 53.5 %. Efficiency Ratio.

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GFNORTE 1Q09 Results

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  1. GFNORTE 1Q09 Results Conference Call April 30, 2009.

  2. (16%) (3%) 15% Yearly Recap BILLION PESOS 1Q08 1Q09 Net Income 1,928 1,611 Recurring Net Income 1,653 1,611 11% ROE 23.2% 16.8% ROA 2.6% 1.1%* 51.5% 53.5% Efficiency Ratio Net Interest Margin 7.9% 4.6%* Performing Loan Growth 29% 18% Core Deposits Growth 9% 22% Past Due Loan Ratio 1.6% 2.3% 16.78 19.26 Book Value per Share * Includes reclassification of repos as balance sheet assets.

  3. Income Statement MILLION PESOS 1Q08 4Q08 1Q09 QoQ YoY (4%) Net Interest Income 5,161 6,199 20% 6,451 Non Interest Income (22%) 2,360 1,942 1,845 (5%) Service Fees (8%) 1,596 1,554 1,465 (6%) (33%) Recovery 190 138 (28%) 205 (57%) 198 241 22% FX & Trading 559 Total Income 7,103 8,811 8,044 (9%) 13% (5%) 3,799 4,142 9% Non Interest Expense 4,369 Net Operating Income 3,304 3,902 (13%) 18% 4,442 Provisions (1,005) (2,983) (2,162) (28%) 115% Non Operating Income, Net 738 413 652 58% (12%) Income Tax (1,075) (592) (774) (31%) (28%) Subs & Minority Interest (34) (7) (6) (14%) (82%) Net Income 1,928 1,272 1,611 27% (16%) Recurring Net Income 1,653 1,272 1,611 27% (3%)

  4. Non Interest Expense BILLION PESOS 1Q08 4Q08 1Q09 QoQ YoY 7.1 8.8 8.0 (9%) 13% Total Income 3.8 4.4 4.1 (5%) 9% Non Interest Expense EFFICIENCY RATIO 54% 52% 50% 1Q09 4Q08 1Q08

  5. Deposits BILLION PESOS Change 4Q08 1Q08 1Q09 QoQ YoY Demand 103 128 120 (6%) 16% 75 63 82 10% 31% Time 166 203 203 -% 22% Core Deposits Money Market 31 57 53 (8%) 71% Total 197 261 255 (2%) 29%

  6. Performing Loan Portfolio BILLION PESOS 240 235 199 1Q08 4Q08 1Q09 Change 1Q08 4Q08 1Q09 QoQ YoY 67 75 74 (1%) 11% Consumer 76 93 89 (4%) 18% Commercial 39 45 44 (4%) 12% Corporate 18 27 29 6% 63% Government Total 199 240 235 (2%) 18%

  7. Performing Consumer Loan Portfolio BILLION PESOS 75 74 67 1Q08 4Q08 1Q09 Change 1Q08 4Q08 1Q09 QoQ YoY Mortgage Loans 38 45 46 2% 22% Car Loans 7 8 8 (1%) 1% Credit Card Loans 15 15 14 (8%) (8%) Payroll Loans 6 7 6 (4%) 3% 67 75 74 (1%) Consumer 11%

  8. Loans to Deposits Ratio TOTAL LOANS /TOTAL DEPOSITS 103% 99% 97% 93% 92% 2Q08 1Q08 3Q08 4Q08 1Q09

  9. Asset Quality BILLION PESOS 1Q08 4Q08 1Q09 Total Loan Portfolio 203 242 239 3.2 4.9 5.6 Past Due Loans 4.0 6.7 6.1 Loan Loss Reserves PAST DUE LOAN RATIO RESERVE COVERAGE 2.3% 135% 2.0% 1.6% 127% 109% 1Q08 4Q08 1Q09 1Q08 4Q08 1Q09

  10. Provisions As a % of Average Gross Loans 5.0% 3.6% 2.0% 1Q09 4Q08 1Q08

  11. Past Due Loans 1Q08 4Q08 1Q09 Credit Cards 5.9% 12.4% 13.6% Payroll 2.0% 2.8% 2.9% Car 1.8% 2.2% 2.5% Mortgage 2.2% 1.6% 1.7% Commercial 1.6% 2.0% 2.6% Corporate 0% 0% 0% Government 0% 0% 0% 11

  12. SME Reestructuring Program Goal: Avoid an increase in NPL’s for SME’s with Crediactivo loans. Advantages to clients that reestructure. Lower monthly payments. Extension of loan maturity: up to 7 years. Reduction in interest rates for timely payment. Rate is reduced automatically by one percentage point. After one year of restructuring. Only if the client has remained current in payments. The rate reduction benefit is only one time.

  13. Capitalization 1Q07 1Q08 1Q09 Tier 1 11.0% 10.3% 9.7% Tier 2 4.9% 4.3% 4.9% TOTAL 15.9% 14.6% 14.6% % Tier 1 69% 70% 66% 13

  14. Subordinated Debt • During March, we issued Ps 2.2 billion in subordinated debt. • Term: 10 years with prepayment option after year 5. • Rate: TIIE + 200 pb. • Rating: Aaa.mx by Moody’s / AA(mex) by Fitch. • Strengthen Tier 2 Capital. • Placed among institutional clients and our own clientele. • Additional securities will be issued. • As markets conditions permit.

  15. Subsidiaries

  16. Recovery Bank (13%) MILLION PESOS 1Q08 1Q09 Net Income 167 146 AUM BILLION PESOS 1Q08 1Q09 % 44% Banorte’s Assets 18 26 (13%) Acquired Assets 38 33 22% Investment Projects 2.6 3.1 0% IPAB 2 2 5% Total 61 64

  17. 49% Long Term Savings MILLION PESOS 1Q08 1Q09 Total 80 119 AFORE ANNUITIES INSURANCE 77 39 33 30 12 8 1Q08 1Q09 1Q08 1Q09 1Q08 1Q09

  18. Subsidiaries NET INCOME IN MILLION PESOS WAREHOUSING BROKERAGE HOUSE LEASING AND FACTORING 71 40 94 66 7 5 1Q08 1Q09 1Q08 1Q09 1Q08 1Q09

  19. Inter National Bank MILLION DOLLARS IN US GAAP 1Q08 1Q09 Change 15.3 15.5 2% Net Interest Income 3.8 3.1 (19%) Non Interest Income 2.9 3.1 8% Recurring Non Interest Income** Total Income 19.1 18.6 (3%) Non Interest Expense 7.7 8.4 8% Loan Loss Reserves 1.0 0.9 (3%) Net Income 6.9 6.1 (11%) Recurring Net Income** 6.3 6.1 (2%) 1,136 997 14% Performing Loans 25 27 10% Past Due Loans 745 661 (11%) Demand Deposits 692 906 31% Time Deposits 19 **Excludesextraordinaryincomearisingfromthe sale of “securitiesavailablefor sale”, registeredduring 2008.

  20. Inter National Bank FINANCIAL RATIOS % Change pp 1Q08 1Q09 4.2 3.9 (0.3) NIM 22.3 16.5 (5.8) ROE 1.7 1.4 ROA (0.3) Efficiency Ratio 40.3 44.9 4.5 PDL Ratio 2.4 2.3 (0.1) Reserve Coverage 44.5 54.0 9.4 Leverage Ratio 7.5 8.2 0.7 Capitalization Ratio 11.5 13.3 1.8 20

  21. Final Remarks • More complexeconomic and financialenvironmentthananticipated. • Itcouldcomplicateevenfurtherwithswinefluoutbreak. • Strenghthenbank’sfundamentals. • Profitability / AssetQuality / Capitalization / Liquidity / Efficiency. • Continueimprovingourservicestandards. • Continuepromotingorigination of products. • Importantopportunities in varioussegments. • Government / SMEs / Mortgage / Bancassurance / Mutual Funds. • Promotegreatercrossselling.

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