GFNORTE

2Q11 Results

Conference CallJuly 26, 2011.

2

Changes to the Board of Directors. On July 21st, the Shareholders’ Assembly formalized

changes to the Board of Directors, designating 5 new Members, including highly recognized

personalities in the business and financial sectors, as well as some former members of the

Board of IXE Grupo Financiero. With these changes, GFNorte continues to adhere to the best

international practices in Corporate Governance. Additionally, the Shareholders’ Assembly

approved the creation of an Advisory Board, that will serve as an advisory body to the

Chairman of the Board, on topics related to the bank’s development, new business

opportunities, among others. It was also approved to create five Regional Boards: at the

Northwest, Monterrey, Jalisco, Mexico City Metropolitan area and Merida. These Boards will

provide opinions and advisory to the Board of Directors on the trends and opportunities of

each region.

Organizational Changes. In May, Hector Avila Flores and Armando Rivero Laing were

appointed as Co- Managing Directors of the Legal Department of Grupo Financiero Banorte.

Material Events

3

New Mortgage Offering. During July, Banorte launched its new mortgage offer with the

objective of being positioned as a specialized mortgage bank that offers various home

acquisition options with excellent payment conditions, a differentiated product offering and

accessible interest rates for all needs. Through this concept, the market’s needs will be met

appropriately through a competitive offering, defining differentiated products for each

segment.

Sale of Insurance products through Ixe’s network. Since July, Seguros Banorte-Generali

began offering its products through Ixe’s branch network. Products were designed to meet

the specific needs of Ixe’s clients under the best guarantee of service.

Recognitions by Euromoney and World Finance. Banorte - IXE was recognized in July by

EuroMoney magazine’s 20th edition of its "Awards for Excellence" as the “Best Bank in

Mexico 2011" and in May by World Finance magazine as the “Best Commercial Bank in

Mexico 2011." These recognitions were given for the high level of service, innovation and

specialization in attention to clients, as well as for the quality of our products and services,

among other attributes.

Material Events

4

Results 2Q11

Million Pesos

5

Yearly Recap GFNorte

2Q112Q10

Performing Loan Growth

Net Interest Margin

Net Income

Stock Price (pesos)

ROA

ROE

Book Value Per Share

Past Due Loan Ratio

Efficiency

29%

4.2%

2,048

53.30

1.1%

12.4%

2.4%

57.8%

6%

24%

15%

4.1%

1,656

50.14

1.1%

15.6%

2.3%

53.2%

28.5635%21.17

0.1

P/BV 1.862.37

6

Income StatementMillion Pesos

2Q10

33%

7%

27%

10%

26%

36%

13%

1%

24%

(1%)

167%

2Q11

(62%)

7,369

1,741

284

3,005

10,374

5,991

4,383

810

2,048

1,318

(207)

219

155%761

5,533

1,625

224

2,727

8,261

4,391

3,870

798

1,656

1,337

(77)

580

299

Net Interest Income

Service Fees

Recoveries

FX & Trading

Other Income (expenses)

Non Interest Income

Total Income

Non Interest Expense

Net Operating Income

Income Tax

Net Income

Provisions

Subs & Minority Interest

1,469

220

517

427

2,632

8,909

4,653

4,256

847

1,815

1,338

(257)

6,277

1Q11Change

YoYQoQ

17%

19%

29%

14%

16%

29%

3%

(4%)

13%

(1%)

(20%)

(58%)

78%

7

Quarterly Net Income

3%

1,656

1,711

1,758

1,815

Million Pesos

2Q10 3Q10 4Q10 1Q11

13%2,048*

2Q11

171

1,877

Ixe

Banorte

24%

*Net Income for 2Q11 without reestructuring charges was Ps 2.18 billion.

8

Net Interest Margin

Average

NIM

Average

TIIE

With

Repos

1H10

6.4%

1H11

6.2%

4.2%

1H10

4.9%

1H11

4.8%(0.1 pp)

4.1 %

(0.2 pp)

0.1 pp

2Q10 2Q11

9

53%

2Q10

58%

2Q11

52%

1Q11

Non Interest Expense

Billion Pesos

EFFICIENCY RATIO

Non Interest Expense 4.4 6.0 29%

Recurring Non Interest Expense 4.4 4.8 6%

52%

Recurring

2Q11

1Q11

4.6

4.5

QoQ YoY

36%

9%

Mix

Demand

Time

Deposits 2Q11

Core Deposits

Demand

Time

2Q102Q09

10

Billion Pesos

Deposits

60%

40%

100%

61%

39%

100%

207 221

124 134

83 87

23%

20%

28%

161

111

2727%

5%

8%

59%

41%

100%

w/out Ixe: +8%

1Q112Q10QoQ

Change

YoY

Total

2Q11

11

Billion Pesos

Performing Loan Portfolio

Commercial

Corporate

Government

Consumer

15% 29%311270241

30% 38%

12% 31%

8% 34%

6% 16%

114

51

55

91

87

46

51

86

82

39

41

79

3%

2%

4%

2%

3%

16%

9%

23%

27%

13%

2Q10 1Q11 2Q11

241

311270

QoQ

W/out Ixe

YoY

12

Billion Pesos

Performing Consumer Loan Portfolio

1Q112Q10QoQ

Change

YoY2Q11

Consumer

Car

Credit Card *

Payroll

Mortgage

6% 16%9179 86

4% 14%

(1%) (2%)

16% 47%

6% 15%

9

11

11

60

8

11

7

52

8

11

9

57

2Q10 1Q11 2Q11

79

91

86

* Excludes the SOFOM’s portfolio

13

$365 Billion Pesos $319 Billion Pesos

Funding and Loan Portfolio Structure

FUNDING LOAN PORTFOLIO

45%

25%

22%

8%

DemandMoney

Market

TIme

Interbank

Loans

37%

19%

18%

16%

10% Commercial

Consumer

Mortgage

Government

Corporate

14

Branches

Distribution Network

2Q10 3Q10 4Q10 1Q11 2Q11

1,102 1,1081,134

1,300

1,142 1,146

165158

1,311

19%

1%

Ixe

Banorte

15

Automated Teller Machines (ATM´s)

Distribution Network

2Q10 3Q10 4Q10 1Q11 2Q11

6,222

4,685 4,8465,004

5,014

1,000

6,212

6,019

198 203 Ixe

Banorte /

Cardtronics

33%

Banorte’s market share increased to 16.7% in 2Q11, the third largest network.

16

Point of Sale Terminals (POS´s)

Distribution Network

2Q10 3Q10 4Q10

9%

1Q11 2Q11

79,885

Billing grows at 31% YoY vs. 18% for the market.

52,117 54,36958,336

62,856

73,209

10,353

12,331

67,554

53%

Ixe

Banorte

17

Asset Quality and Capitalization

18

Asset Quality

W/out INB & IXE 2Q11: 2.3% W/out INB & IXE 2Q11: 140%

COVERAGE RATIOPAST DUE LOAN

RATIO

135%

125%

139%

2Q10 1Q11 2Q11

2.4%*2.3% 2.3%

2Q10 1Q11 2Q11

19

Past Due Loan Ratios

Payroll

Car

Mortgage

Credit Cards

Commercial

Corporate

Government

2Q10 3Q10 4Q10 1Q11

10.6%

1.9%

1.3%

1.7%

4.1%

0.2%

0%

2.3%

9.3%

1.9%

1.4%

1.9%

4.1%

0.1%

0%

2.2%

8.5%

1.8%

1.0%

1.7%

3.9%

2.5%

0%

2.5%

9.1%

1.5%

0.8%

1.2%

4.1%

2.4%

0%

2.3%

2Q11

9.4%

1.7%

1.0%

1.4%

4.0%

2.3%

0%

2.3%Banorte’s NPL ratios

20

Tier 1

Tier 2

TOTAL

% Tier 1

Capitalization

2Q10 3TQ0 4Q10 1Q11 2Q11

12.0%

4.7%

16.7%

72%

12.1%

4.5%

16.6%

73%

12.1%

4.0%

16.1%

75%

12.2%

3.9%

16.1%

76%

12.0%

3.6%

15.6%

77%

21

Subsidiaries

22

Total

1H10

353

1H11

41016%

Recovery Bank

Net Income in Million Pesos *

AUM

BILLION PESOS

2Q10YoY

Change2Q11

Proprietary Assets

Acquired Assets (3%)

14%

28.9

35.4

28.2

40.2

Total 25%68.7 85.9

Managed Assets “Su Casita” -- 6.7

Ixe Assets -- 5.2

Investment Projects 27%4.4 5.6

* Since May 2011, the business related to investment projects are managed by Wholesale Banking.

23

AFORE

38

2Q10

INSURANCE

53

2Q10

ANNUITIES

3

2Q102Q11

51

2Q11

(4)

2Q11

70

Total

2Q10

86

2Q11

124

ROE

23%

ROE

22%

ROE

16%

ROE

20%

44%

36%

31%

Long Term Savings

Net Income in Million Pesos

24

103

159

2Q10 2Q11

54%

12 9

2Q10 2Q11

(27%)

75

2Q10 2Q11

57

(24%)

ROE

22%

ROE

25%

ROE

30%ROE

20%

ROE

12%

LEASING AND

FACTORINGWAREHOUSING BROKER DEALER

Net Income in Million Pesos

Subsidiaries - Banorte

25

Million Dollars

Inter National Bank

(17%)

8%

2Q10 2Q11

3.0

3.4%

2.9%

0.5%

66.9%

1,860

823

4.2%

68.0%

0.1

3.4%

0.1%

0%

65.3%

1,720

991

6.7%

40.8%

Net Income

NIM

ROE

ROA

Efficiency

Total Deposits

Performing Loans

PDL Ratio USGAAP

Coverage Ratio USGAAP

26