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GFNORTE 3Q08 Results

GFNORTE 3Q08 Results. Conference Call October 24, 2008. 15%. 12%. Yearly Recap. MILLION PESOS. 9M07. 9M08. Net Income. 5,125. 5,742. 11%. ROE. 23 %. 22%. ROA. 2.6 %. 2.5 %. Efficiency Ratio. 57 %. 52 %. Net Interest Margin. 7.4 %. 7.7 %. Past Due Loan Ratio. 1.5 %.

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GFNORTE 3Q08 Results

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  1. GFNORTE 3Q08 Results Conference Call October 24, 2008.

  2. 15% 12% Yearly Recap MILLION PESOS 9M07 9M08 Net Income 5,125 5,742 11% ROE 23% 22% ROA 2.6% 2.5% Efficiency Ratio 57% 52% Net Interest Margin 7.4% 7.7% Past Due Loan Ratio 1.5% 1.7% Reserve Coverage 132% 123% Book Value 15.98 18.44

  3. Income Statement MILLION PESOS 3Q07 2Q08 3Q08 QoQ YoY Net Interest Income 4,435 5,232 5,756 10% 30% Non Interest Income 1,939 1,989 2,028 2% 5% Service Fees 1,520 1,712 1,682 (2%) 11% Recovery 119 117 223 90% 88% FX & Trading 300 160 123 (23%) (59%) Total Income 6,374 7,221 7,784 8% 22% Non Interest Expense (3,607) (3,903) (3,736) (4%) 4% Net Operating Income 2,767 3,318 4,048 22% 46% Provisions (709) (1,255) (1,653) 32% 133% Non Operating Income, Net 527 551 593 7% 12% Income Tax (806) (751) (982) 31% 22% Subs & Minority Interest (39) (57) 1 102% 103% Net Income 1,740 1,806 2,007 11% 15%

  4. Recurring Provisions 9M07 9M08 1.7% 2.1% Recurring Provisions / Loans 0.4 pp 1.3% 2.3% Total Provisions / Loans 1.0 pp 132% 126% Adjusted Reserve Coverage* (5.0) pp * Includes Ps $122 million in credit card reserves for 4Q08 RECURRING PROVISIONS IN MILLION PESOS 3,688 2,189 68% 9M08 9M07

  5. Quarterly Net Income MILLION PESOS 2,007 1,928 1,806 1,740 1,685 3Q07 1Q08 4Q07 2Q08 3Q08

  6. Core Earnings (NII + Fees – Expenses – Provisions) MILLION PESOS 2,272 2,138 2,134 1,903 1,758 3Q07 4Q07 1Q08 2Q08 3Q08

  7. Non Interest Expense BILLION PESOS 3Q07 3Q08 Interest Income 6.3 7.7 22% Non Interest Expense 3.6 3.7 4% EFFICIENCY RATIO 57% 55% 52% 48% 3Q08 3Q07 9M08 9M07

  8. Net Interest Margin vs CETES Percentage Cetes 8.2 8.1 7.9 NIM 7.7 95% 7.5 7.5 7.1 NIM 101% 7.7 7.4 7.5 7.4 7.2 7.1 7.0 Cetes 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08

  9. Deposits BILLION PESOS Change Deposits 3Q08 3Q07 2Q08 QoQ YoY 11% Demand 108 1% 97 107 7% Time 67 4% 62 64 9% Core Deposits 174 2% 159 171 180% Money Market 67 34% 24 50 32% Total 241 9% 183 221

  10. Performing Loan Portfolio BILLION PESOS 230 217 175 3Q07 2Q08 3Q08 Change 3Q07 2Q08 3Q08 QoQ YoY 59 71 74 5% 26% Consumer 68 79 85 8% 26% Commercial 31 43 45 6% 47% Corporate Government 18 24 25 4% 42% Total 175 217 230 6% 31%

  11. Performing Consumer Loan Portfolio BILLION PESOS 74 71 59 3Q07 2Q08 3Q08 Change 3Q07 2Q08 3Q08 QoQ YoY Mortgage Loans 33 40 43 6% 29% Car Loans 7 8 8 3% 12% Credit Card Loans 13 16 16 2% 29% 6 7 7 8% 18% Payroll Loans Consumer 59 71 74 5% 26%

  12. Loans to Deposits Ratio Total Loans / Total Deposits 103% 100% 97% 98% 97% 95% 90% 2Q08 1Q08 3Q08 4Q07 1Q07 2Q07 3Q07

  13. Funding Breakdown Retail and Wholesale Deposits (Billion pesos) 264.8 246.0 9% 231.5 226.2 10% 206.6 205.3 15% 10% 25% 21% 10% 11% Interbank 13% 13% 12% 12% Money Market 28% 25% 26% 27% 29% 30% Time 43% 41% 49% 45% 47% 49% Demand

  14. Asset Quality BILLION PESOS 3Q07 2Q08 3Q08 180 Total Loan Portfolio 220 233 2.7 Past Due Loans 4.0 3.2 3.6 4.2 4.9 Loan Loss Reserves PAST DUE LOAN RATIO RESERVE COVERAGE 1.7% 132% 1.5% 1.5% 131% 123% 3Q07 2Q08 3Q08 3Q07 2Q08 3Q08

  15. Past Due Loans 3Q07 2Q08 3Q08 Credit Cards 5.5% 6.7% 9.0% Payroll 1.8% 2.0% 1.9% Car 1.9% 1.9% 2.0’% Mortgage 2.4% 1.5% 1.6% 1.4% Commercial 1.3% 1.4% Corporate 0% 0% 0% Government 0% 0% 0% 15

  16. Capitalization 3Q06 3Q07 3Q08 Tier 1 12.6% 11.0% 10.6% Tier 2 2.3% 3.9% 5.2% TOTAL 14.9% 14.9% 15.8% % Tier 1 84% 74% 67% 16

  17. Inter National Bank MILLION DOLLARS IN US GAAP 9M07 9M08 Change 17% Performing Loans 927 1,084 12% Deposits 1,269 1,414 9% Net Income (70%) 12.9 14.0 ROE 22.8% 20.5% Efficiency 41.6% 42.3% NIM 4.5% 4.2% 17

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