September 2007

BANORTE USA

2

• To be a bi-national financial group offering integrated financial

products and services to a diverse group of customer segments.

• To be a bi-currency financial group which offers a wide range of

products and services in U.S. Dollars and Mexican Pesos.

Grupo Financiero Banorte’s Vision

3

The Mexican banking system has

approximately $14 billion in U.S.

dollar deposits within the country.

It is estimated that Mexican Nationals

have approximately $35 billion

dollars in deposits in bank accounts

and investments abroad.

Banorte wants to have a bigger share

of its customers’ wallets on both sides

of the border.

Bi-currency: StatisticsBi-currency: Statistics

4

Banorte’s U.S. Expansion StrategyBanorte’s U.S. Expansion Strategy

Banorte has a Three-Pronged Strategy for U.S. Expansion:

Private Banking / Wealth Management

(Brokerage Services)Provide Mexican Nationals and U.S. Citizens dollar-denominated

financial investment products (Banorte Securities International, Ltd.).

Commercial/Retail BankingProvide financial products and services to facilitate cross-border

transactions for businesses and individuals.

Remittance MarketProvide an integrated approach to remittances to the non/under-banked

immigrant population living in the U.S.

5

Banorte USABanorte USA

RemittancesRemittances U.S. Bank U.S. Bank Brokerage/Brokerage/InvestmentsInvestments

International International BusinessBusiness

6

WA

OR

CA

MT

WY

CO

NM

ID

NVUT

AZ OK

TX

IA

MO

IL

NC

VA

KY

PA

WV

CT

MDNJ

6.1%

5.7%

31.4%

2.2%

7.1%

13.8%

40.5%

7.4%

13.9%6.2%

20.9% 3.6%

28.2%

1.8%

1.6%

2.7%

2.5%

10.2% 3.8%

0.8%

2.7%

0.6%

0.6%

8.5%

4.0%

Strategic Reasons for Entering the U.S. MarketStrategic Reasons for Entering the U.S. Market

Cross Border Cross Border BusinessBusiness

Binational products for individualsBinational products for individuals

-Credit Cards-Credit Cards

-Mortgages-Mortgages

-US based deposit accounts-US based deposit accounts

Private Banking in USPrivate Banking in US

-High net worth US Residents-High net worth US Residents

-Mexicans Nationals-Mexicans Nationals

Family RemittancesFamily Remittances US Banking US Banking MarketMarket

Attractive local banking market High growth rates

Cross border business Foreign trade products and services Bi-national products to individuals

Family remittances Improve our position in the industry

Private banking market (México-US)

Synergies Across all market segments (Banorte México, Banorte US Bank,

Banorte Securities, and Remittance Money Transmitter)

• Geographical diversification of income for Grupo Financiero Banorte

7

Banorte and INB clients are already benefiting from

expanded services from both banks:

Free fund transfers between Banorte and INB savings and checking accounts

Free withdrawal and account balance inquiries in ATM’s of both Banks

Acceptance of each others checks for deposit with next day availability in

both currencies.

Banorte Securities Int’l, Ltd. (BSI) offices in McAllen & El Paso

Account opening process of accounts referred by Banorte to INB has

resulted in the opening of over 3,000 accounts with $45 million in balances.

SynergiesSynergies

8

New Products and ServicesNew Products and Services

New Products Introduced Since Merger:

Mortgages to Americans purchasing Mexican Resort Properties: $38 million funded to date with $24 million at closing.

Potential: 2008-$150 million, 2009-$250 million, 2010-$350 million

Loans secured by investment portfolios held by customers at BSI in dollars or at Banorte in pesos: $5 million funded to date with

$20 million at closing.Potential: 2008-$60 million, 2009-$100 million, 2010-$150 million.

Banorte Securities offices have been introduced in INB offices: $72 million funded to date in new investment accounts.

Potential: 2008-$125 million, 2009-$185million, 2010-$250 million

Competitive Foreign Exchange Platform

9

New Products and ServicesNew Products and Services

New Products Currently in Development:

New INB issued credit card program to be launched in 1Q, 2008.Potential: 2008-$15 million, 2009-$25 million, 2010-$50 million.

New trade financing loans programs to be offered in late 2007.Potential: 2008-$50million, 2009-$125 million, 2010-$200 million.

Enhanced treasury management services including lockbox, remote deposit capture and ACH services which should increase our non-interest income.

New Markets: Laredo and Brownsville, Texas to open 1Q, 2008.

10

New Markets: Proposed New Branches

LAREDO, TEXAS

BROWNSVILLE, TEXAS

Potential New Markets: SAN ANTONIO, TEXAS HOUSTON, TEXAS DALLAS, TEXAS SAN DIEGO, CALIFORNIA

Approximately 4,100 sf facilityApproximately 4,100 sf facility3 drive-thru lanes & drive-up ATM3 drive-thru lanes & drive-up ATMCompletion is estimated for 1Completion is estimated for 1stst Qtr 2008 Qtr 2008

Details:

11

Private Banking/Wealth ManagementPrivate Banking/Wealth Management

Banorte Securities International, Ltd (BSI) markets its services to: High net worth individuals in Mexico Hispanics/US citizens and residents

Growth Strategy: Grow organically by creating a dedicated sales force which focuses on the

Hispanic population, including high net-worth Mexican nationals and Mexican-Americans residing in the U.S.

Currently has approximately $1.2 Billion in assets.

12

INB and Banorte Securities clients will benefit from expanded services from both Institutions:

Banorte Securities will refer clients to Inter National Bank, seeking bank accounts not available at BSI.

Inter National Bank will refer clients to Banorte Securities that seek brokerage accounts not available at Inter National Bank.

Inter National Bank can provide loans to BSI customers wishing to use their brokerage accounts as collateral.

SynergiesSynergies

13

Remittances MarketRemittances Market

Banorte has been a strong payer of remittances to customers in Mexico

Payment agreements with more than 30 U.S. licensed remittance companies (including UniTeller) and 3 major U.S. banks (BoA, Chase, and Wells Fargo)

Over to 4 million remittances paid in 2006 totaling $1.6 Billion (7% Mkt Share) Banorte has been promoting banking the beneficiaries of remittances

Over 62,000 Enlace Express Accounts (without fees)

Strategy: Vertical Integration

Acquisition of UniTeller will streamline GFNorte’s remittance service Access to a large number of under-banked clients on both sides of the border –

additional business opportunities Promote remittances to Banorte, and banking of beneficiaries

complements Banorte’s bancarization effort

UniTeller will benefit from additional financial resources, and correspondent banking relationships in the US as well as in other parts of the world

14

Banorte’s Agreements w/ Major Corporations & Financial Institutions

15

Acquisition of 100% of UniTellerTransaction Closed on Jan. 18, 2007High Growth Industry: Estimated $50 billion in remittances from the U.S. to Latin America in 2006

billion (close to $25 billion to Mexico alone)

Background: Based in New Jersey $1.12 Million transfers per year Agent Network in the US: 1,000 collection agents in 41 States Strong payment network: Over 4,000 payment points in 19 countries including

top remittance destination countries Strong payment network in Mexico’s rural areas, complementing

Banorte’s banking network Guatemala, Philippines, El Salvador

Strong compliance culture Attractive technological infrastructure with enough capacity to support

immediate growth

UniTeller UniTeller

16

Projects in Progress Account Link (deposits to an account)

Product Improvements

Discounts on remittances from U.S. from Uniteller and Banorte

Payment options to Banorte accountholders

Marketing campaigns in conjunction with other U.S. transmitters to promote remittances

UniTellerUniTeller (cont’d)(cont’d)

17

5,600

33,130

2004 2005

52,200

2006

Opportunity to integrate the non-banked:Opportunity to integrate the non-banked:

Enlace Express is Banorte’s equivalent to free checking in the U.S.:

debit-card based no minimum balances

or monthly fees

Since its inception, the Enlace Express product has achieved significant progress.

# of Customers(In Thousands)

Jun-2007

62,467

18

BANORTE USA

Results from Operations

September 2007

19

Dollar Denominated AssetsDollar Denominated Assets

Banorte Dollar Deposits

Demand

Time Deposits

Total Mexico

INB

Total USA

Total GFB

IN MILLONS OF DOLLARS

YTD Y on YJUNE JUNE

2006

Variance (%)2007

BSI –INB Accts

BSI Mexico Accts

699 745 748 0% 7%

676 716 793 11% 17%

1,375 1,461 1,541 5% 12%

958

1,025 1,033 0% 8%

2,333

2,486 2,574 3.5% 10%

977 1,363 1,280 (6%) 31%

2

42 72 71% 3,316%

979

1,405 1,352 (4%) 38%

3,311

3,891 3,926 2% 18%

DEC

20

Earnings - Banorte USA

IN MILLIONS OF DOLLARS

Y on YJUNE JUNEDEC

2006 Variance (%)2007

International business-(México) Pre-Tax

INB Financial Corp.

Banorte Securities, Ltd.

Uniteller Holdings, Inc.

Total Earnings

21.5 58.2 25.0 16%

9.4 17.9 11.9 27%

0.8 1.4 1.3 70%

(0.1) (0.1) (0.4) (353%)

31.6 77.3 37.9 20%

21

INB June 30, 2007 HighlightsINB June 30, 2007 Highlights

Net Interest Margin 4.7%

1S07

4.5%

IN MILLIONS OF DOLLARS

Loans 721 92228%

Deposits 977 1,27731%

Efficiency Ratio 43.5% 41.3%

1S06

ROE 20.8% 23.7%

ROA 1.8% 1.8%

Net Earnings 10.0 12.524%

22

Inter National Bank: Earning Assets vs. Cost of Funds

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

Yield on Earning Assets 6.36 6.43 7.04 8.15 8.39

Cost of Funds 2.29 2.05 3.03 4.28 4.73

Spread 4.07 4.38 4.01 3.87 3.66

2003 2004 2005 2006 Jun-2007

23

Inter National Bank: Net Interest Margin

2.00

2.50

3.00

3.50

4.00

4.50

5.00

Net Interest Margin 4.32 4.67 4.47 4.58 4.49

2003 2004 2005 2006 Jun-2007

24

IN MILLONS OF DOLLARS

Revenues

Expenses

Earnings from Operations

Investment Earnings

Taxes

Net Earnings

2006 Variance (%)2007

Banorte Securities International, Ltd.

Note: Banorte Securities consolidates into Casa de Bolsa and not Banorte USA.

3.8 7.5 5.0 32%

(2.9) (5.7) (3.3) 12%

0.9 1.8 1.7 102%

0.2 0.4 0.2 (4%)

(0.2) (0.8) (0.6) 132%

0.8 1.4 1.3 70%

JUNE DEC Y on YJUNE

25

Family Remittance Indicators - MexicoFamily Remittance Indicators - Mexico

YTD Y on YJUNE JUNEDEC

IN MILLONS OF DOLLARS

Transactions (000’S)

Revenues

No.of Accounts-EE

Avg. Deposit Balances

2006 Variance (%)2007

Paid into Accounts

Paid in Cash

Total Paid

Direct Deposit %

1,931 3,969 2,064 4% 7%

$744 $1467 $755

$50 $119 $77

6% 8% 9%

$794 $1586 $832 5% 5%

$4.2 $9 $4.4 5% 4%

43,907 52,207 62,467 39% 42%

$17 $20 $22 20% 30%

-

-

-

- - -

- -

26

(3%)

Banks

(4%)

9 %

Market Growth(1H06 vs. 1H07)

7%

NonBanks

Banksw/o

Banorte

0.6%

MarketGrowth

Banorte

Family Remittances Paid in MexicoFamily Remittances Paid in Mexico

While the growth in the remittance market has slowed, Banorte continues to grow well above the rate of growth of other Mexican banks.

27

BANORTE USA

Supplemental Information

September 2007

28

Inter National Bank: Loan Growth

$366,005

$514,161

$687,505

$787,588

$930,822

$200,000

$500,000

$800,000

$1,100,000

2003 2004 2005 2006 Jun-2007

In ThousandsIn Thousands

% Growth 40% 34% 15% 36% Ann

29

Inter National Bank: Net Loan Losses

$297,951

$241,878

$184,713 $194,714

$274,384

$100,000

$200,000

$300,000

$400,000

2003 2004 2005 2006 Jun-2007

30

Inter National Bank: Deposit Growth

In ThousandsIn Thousands

$618,346

$796,897

$938,699

1,363,135

976,569

1,277,247

$400,000

$800,000

$1,200,000

$1,600,000

2003 2004 2005 2006 Jun-2006 Jun-2007

% Growth 18 % 29% 18% 45% YoY 31 %

31

Inter National Bank: Account Growth

17,94719,182

25,825

29,481

33,310

0

10,000

20,000

30,000

40,000

2003 2004 2005 2006 Jun-2007

% Growth 10% 7% 35% 14% 26% Ann

32

Inter National Bank: Net Earnings

$12,405

$15,203

$20,018$19,177

12,486

$26,400

$0

$4,000

$8,000

$12,000

$16,000

$20,000

$24,000

$28,000

2003 2004 2005 2006 2007-YTD 2007-Proj38%

33

Inter National Bank: Return on Average Assets

1.75% 1.81% 1.83%1.65%

1.80%

0.00%

0.50%

1.00%

1.50%

2.00%

2003 2004 2005 2006 Jun-2007

34

Inter National Bank: Return on Equity

25.29%

22.25% 21.63%19.42%

23.74%

0.00%

3.00%

6.00%

9.00%

12.00%

15.00%

18.00%

21.00%

24.00%

27.00%

30.00%

2003 2004 2005 2006 Jun-2007