Commercial Banking

Banorte Investor Day Commercial Banking November 16, 2007

Contents • Commercial Overview • Infrastructure • Key Volume Indicators • Key Performance Indicators • Competitive advantages • Process improvements • Commercial Alliances

Commercial Overview NORTE NOROESTE Branches 139 Branches 208 GDP $79 $103 GDP Population 11.6 Population 8.2 OCCIDENTE Branches 115 CENTRO GDP $55 Branches 138 Population 12.2 GDP $60 Population 14.4 MEXICO NORTE Branches 127 MEXICO SUR Branches 121 GDP $96 Population 22.7 PENINSULAR Branches 75 $50 GDP Population 10.0 SUR Branches 100 TOTAL SISTEMA $41 GDP Branches 1,023 Pop- Millions Population 24.1 GDP $67 GDP per capita – Thousands of pesos Population 103.3 Footprint Coverage September 2007 NORTHWEST NORTH OCCIDENTAL CENTRAL NORTH MEXICO CITY SOUTH MEXICO CITY SOUTH TOTAL

Infrastructure Branch Expansion Program 8% 6% 3% Market Share 14.1% 13.9% 14.3% 14.8%

Infrastructure ATM Network 13% 15% 14% Market Share 14.5% 13.9% 12.9% 13.1%

Infrastructure POS Terminals 25% 33% 40%

Infrastructure Employees: Sales force 3% 3% 3% Market Share 12.0% 11.6% 12.0% 11.8%

Infrastructure Millions of Customers 6.6 5.7 4.9 4.5 16% 11% 16% 16% 9% 10% 2005 2006 2007e 2008e

Key Metrics Transactions in millions # % Sep ‘07 Sep’06 Channel % Var % Units Units % Branches 100.8 27% 111.0 25% 10% ATM's 155.7 42% 179.4 41% 15% POS 21.6 6% 33.1 7% 53% Internet 81.2 22% 102.3 23% 26% Banortel 14.3 4% 17.1 4% 19% Total 373.6 100% 442.9 100% 19%

Key Metrics Average Monthly Sales Products Per Branch Product Sep ‘06 Sep ‘07 % Consumer 45 53 18% Deposits 89 104 17% Banc-assurance 37 43 16% Total 170 200 18%

Key Metrics Cross-selling index Products Per Client Cross-selling Date Index Jun ’06 1.88 Dec ’06 1.99 Jun ’07 2.03 Dec ’07e 2.11 Dec ’08e 2.21

Total Deposits 14% 14% 17% 18% 12% 15% Constant billion pesos 182 157 138 121 Time Demand

Total Loans 72% 32% 28% 25% 27% 16% 30% 21% Constant billion pesos 215 21.0 161 12.2 114.3 128 109 10.5 86.6 Government (32%) 15.4 66.4 Commercial 52.4 79.6 62.2 51.6 Consumer 41.4 2005 2006 2007 E 2008 E

Service Fees Constant billion pesos 5.9 5.1 4.4 3.8 15% 16% 16%

Contents • Commercial Overview • Infrastructure • Key Volume Indicators • Key Performance Indicators • Competitive advantages • Process improvements • Commercial Alliances

Competitive Advantage CRE@ Digital Credit Process • Use of digital files for electronic loan authorizations. • Benefits: • Faster response time in consumer loans. • Parametric credit analysis. • Uniform approval / rejection criteria. Evaluation and Resolution Entry of customer’s information Electronic Authorization 15 min 5 min 2 - 4 hrs

Competitive Advantage Banorte Virtual • Off site loan origination capabilities: • Remote access to evaluation system • De facto mobile sales force. Virtual Private Network Inputs Mobile Internet Laptop VPN Center Private Key Safe password w/ dynamic token Banorte’s Applications

Competitive Advantage SIVS Sales Force Supervision • Tracking of sales’ force metrics. • Planning, development & client retention tool. • Cross-selling tool. • Incentive based compensation schemes.

Alliance with Telecomm • Mexican Telegraph Company. • 1,559 agencies nationwide. • Provides services for un-banked communities: • Debit cash withdrawals, deposits and payments. • Entry level accounts: Banorte Fácil.

Service 2. Competitive advantages Transactions AVERAGE MONTHLY TRANSACTIONS Deposits Withdrawals Check balances Savings account openings Total 140,948 62,904 8,940 1,288 214,080

Certain statements in this document are “forward-looking statements”. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors.

Rentabilidad de Sucursales AVERAGE QUARTELY EARNINGS 2006 2007 Per Branch 1.5 1.9 $ millones de pesos corrientes * Sucursales con menos de 2 años de antigüedad.

Commercial Banking