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Encuentro Bursátil Grupos Financieros AMIB. August- 2001. Contents. I. GFNorte Results GFNorte Banking Division Other Divisions II. COMPARATIVES TO THE INDUSTRY III. OPERATIVE INFORMATION IV. MANAGEMENT’S VISION & STRATEGIES. I. GFNORTE RESULTS. Highlights.

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August- 2001


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slide2

Contents

  • I. GFNorte Results
      • GFNorte
      • Banking Division
      • Other Divisions
  • II. COMPARATIVES TO THE INDUSTRY
  • III. OPERATIVE INFORMATION
  • IV. MANAGEMENT’S VISION & STRATEGIES
slide4

Highlights

  • GFNorte generated a profit of Ps 876.9 millions, 29.5% greater than that of 1H00.
  • GFNorte reached an annual ROE of 21.3%
  • Banorte increased it’s Capitalization Ratio to 15.6%
  • Commercial loans, excluding corporate loans, and automobile loans grew by 23.9%.
  • Issuance of Non-Convertible Subordinate Bonds for 436 million UDIS. (Ps 1,301 million)
  • Banorte announces a reduction of interest rated in Mortgage and Car loans to a fixed rate of 17.90%
  • Banorte begins the process for the possible purchase of Bancrecer.
slide6

GFNorte Accumulated Net Income

JUNE 2001

(Millions of Pesos)

GFNorte Net Income

$876.9

749.0

$40.3

$13.1

$57.7

$16.8

Banking

Sector

Auxiliary

Organizations

Brokerage House

Long Term

Savings

Holding

DIVISION

2Q‘00

2Q ‘01

%

627.0

Banking

749.0

19.5

Auxiliary Organizations

32.3

40.3

24.8

Brokerage House

8.0

13.1

63.8

Long Term Savings

1.6

57.7

>100.0

Holding

8.2

16.8

>100.0

$677.1

$876.9

TOTAL

29.5%

slide7

GFNorte has maintained a constant

earnings growth

ACCUMULATED NET INCOME

(Millions of Pesos)

1,722.9

1,594.1

1,558.2

1,162.5

1,267.5

848.5

721.9

701.9

876.9

2Q’00

677.1

'95

'96

'97

'98

'99

‘00

2Q’01

Book Value 10.3 9.0 12.5 14.6 16.1 15.3 17.2

Per Share (*)

Extraordinary Income: 1997: Ps709.6 y 1998: Ps431.5.

Extraordinary

Income

(*) Based on 503.7 millions of shares.

Millions as of June 2001.

slide8

A major contribution to earnings was that of the Banking Sector with 80% of total Group´s earnings

GFNORTE EARNINGS

%

slide9

GFNorte has increased it’s ROE beyond 20%

ROE

21.3%

20.7%

15.1%

1999

2000

1H01

slide10

GFNorte increased its net income per share by 36% and during 2000, and 30% from 1H00 to 1H01.

NET INCOME PER SHARE

3.42

1.74

2.52

1.34

36%

30%

1999

2000

1H’00

1H’01

Pesos as of june 2001.

slide14

The Net Interest Margin has moved in paralell to interest rates levels.

5.5%(*)

(*) Without Extraordinary Income from money market transactions in 2Q01.

slide15

Fees on services and trading have increased their contribution to the Non Interest Income.

SERVICES

37%

TRADING

54%

FIDUCIARY

63%

46%

FOBAPROA

Data as of June ‘01.

slide16

The actions taken to lower expenses have improved the Efficiency Ratio

  • Non Interest Expense / (Total Operating Income – Repomo-Margin - Provisions - Trading Income)
slide17

The drop in Loan Portfolio was mainly due to the Fobaproa Notes and in 2001 to the impact of the deceleration in the economic activity in the United States.

(Millions of Pesos)

89,758

88,080

86,733

82,433

81,023

77,650

Data as of June ‘01.

Government includes Goverment Entities and Fobaproa-IPAB Notes.

slide18

The commercial loans from the Banking Division showed an increase of 24% from 4Q99 to 2Q01, meanwhile Corporate loans decreased by 20%

Commercial

& Automobile

Mortgage

Corporate

Credit Card

Data as of June ‘01.

slide19

Past due loans have been decreasing and are totally provisioned.

(Millions of Pesos)

Data as of June ‘01.

slide20

Total Deposits have maintained in a contracted market

(Millions of Pesos)

Data as of June ‘01.

slide21

The Capitalization ratio was strengthened with the issuance of the Non Convertible Subordinate-Bonds

Rules 2003

2.5%

NCSB

*: Since 3Q00 we use 2003 rules.

slide23

Other divisions are profitable and have gained market share

1H00

1H01

Net Income

Market

Share

Net Income

Market

Share

Long Term Savings:

Afore

9.0%

36.9

8.9%

36.5

Bancassurance

1.4% 1)

(18.0)

1.3%

7.9

Annuities

9.1%

(17.3)

9.6%

13.3

Brokerage:

Brokerage House

9.7%

8.0

5.5%

13.1

Auxiliary Organizations:

Factoring

32.4%

9.2

28.7%

13.0

Leasing

5.0% 1)

18.5

4.6%

19.7

Warehousing

2.2% 2)

2.1%

1.3

4.3

Bonding

N.A.

2.2% 2)

3.4

3.3

Millions as of June 2001. Wholesale Participation1) Mar ‘01. 2) Dec ‘00.

Market Share: Afore & Annuities: Number of Affiliated; Bancassurance:Premiums; Brokerage House: Variable Equity; Factoring & Leasing: Total Loans, Bonding: Sureties sold.

slide25

GFNorte has increased it´s national market share

(MARKET SHARE)

DEPOSITS

LOANS

Source A B.M. Mkt. % for deposits excludes Financial Intermediaries and refers to Banking Sector exclusively.

Loans includes Fobaproa Source CNBV

slide26

We have also increased our market share in the 3 largest cities of the country.

MEXICO

MONTERREY

GUADALAJARA

DEPOSITS

LOANS

Source: A B.M.

Mkt. % for deposits excludes Financial Intermediaries and Mkt. % for Loans excludes Fobaproa.

slide27

21.3%

30.6%

17.2%

16.9%

7.1%

GFBVA-

BANCOMER

BANACCI

GFNORTE

GFSANTAND

GFBITAL

GFNorte´s ROE ranks among the highest in Mexico

ROE

Source: Press Release each bank. June 2001.

slide28

Banorte has maintained a low level of past due loans

PAST DUE LOAN RATIO

6.9%

5.6%

5.4%

3.3%

0.9%

SANTANDER-

SERFIN

BANAMEX

BANORTE

BITAL

BBVA -

BANCOMER

Data as of June ‘01.

slide29

The capitalization ratio stood at 15.6% with rules of 2003

CAPITALIZATION RATIO

2003

2001

2001

2003

2003

RULES OF:

15.6%

15.6%

13.0%

12.4%

8.4%

SANTANDER -

SERFÍN

BBVA -

BANCOMER

BANORTE

BITAL

BANAMEX

W/O MARKET

RISK

18.3%

24.0%

14.7%

15.4%

18.0% (*)

Data as of June ‘01. (*) Rules 2001.

slide31

Our client base has increased steadily as Banorte has reinforced its presence in traditional entities and moved further into new territories

NUMBER OF CLIENTS

(Thousands)

2,818

2,596

2,324

1,900

889

627

301

142

2001*

1994

‘95

‘96

‘97

‘98

‘99

2000

Products % Accounts

Checking Account 54.3%

Investment 31.8%

Credit Card 7.3%

Credits 2.4%

Money Market 2.0%

Mortgage 2.0%

Brokerage 0.3%

Total Accounts 100.0%

Includes the Banking and Brokerage Sectors.

* June 2001.

slide32

Supported on Banorte´s technological platform, the electronic banking has grown aggressively

POS

PC

Banking

ATM’s

1994

1995

1996

1997

1998

1999

2000

2Q01

Data as of June ‘01.

slide33

More than 50% of all transactions are channeled through electronic banking

TRANSACTIONS BY DISTRIBUTION CHANNEL

2Q01

45.9%

34.0%

6.2%

6.0%

4.0%

3.9%

TELEPHONE

BANKING

PC

BANKING

ATM

BRANCH

POS

INTERNET

Data as of June ‘01.

slide34

The volume of e-business transactions increased considerably.

% Var.

January’01

June’01

Pc Banking:

Transactions

176%

182,837

503,944

Companies

211%

2,148

6,688

Home Banking:

Transactions

48%

120,837

178,590

Clients

507%

16,836

102,115

slide36

The deceleration of the economic activity in the United States has affected the expected GDP growth in México

2002

2000

2001

GDP

4.40%

6.90%

2.00%

INFLATION

4.30%

8.96%

5.21%

CETES 28 DAYS

End of the year

9.50%%

17.59%

9.80%

Average

9.85%

15.24%

12.27%

EXCHANGE RATE

9.65

9.57

9.2

Estimados revisados el 25-Julio-2001

slide37

A new competitive environment is arising

  • Fewer and bigger financial institutions
  • More sophisticated participants
  • Lower net interest margins
  • New non interest income products
  • Internet Banking
slide38

GFNorte strategies and plans are aiming to be a successful contender in this new environment

  • Enhancing its position through acquisitions. (interested in aquiring Bancrecer)
  • Strategic alliances in new businesses.
  • New sources of non-interest income through the acquisition of IPAB loan portfolios.
  • Re-engineering back-office processes in order to improve operative efficiency.
  • Cross-selling of GFNorte products.
slide39

PROFITABILITY

GFNorte has followed a clear and sucessful strategy for increasing it’s profitability

External Factors

Strategy

Deposit Volume

and Mix

New Loans

Interest

Rate

Non Interest Income

Non Interest

Expense

Recovery