Скачать презентацию GFNorte 1 Q 05 Results May-2005 1 Скачать презентацию GFNorte 1 Q 05 Results May-2005 1

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GFNorte 1 Q 05 Results May-2005 1 GFNorte 1 Q 05 Results May-2005 1

Contents 1. 1 Q 05 Results • Banking Sector • Recovery Bank • Long Contents 1. 1 Q 05 Results • Banking Sector • Recovery Bank • Long Term Savings Sector 2. Relevant Events 3. Economic Environment 4. Final Remarks 2

1. 1 Q 05 Results 3 1. 1 Q 05 Results 3

GFNorte Highlights MILLION PESOS 1 Q 04 Net Income 582 1 Q 05 87% GFNorte Highlights MILLION PESOS 1 Q 04 Net Income 582 1 Q 05 87% 1, 090 ROE 16. 2% 26. 9% Stock Price 43. 93 Net Interest Margin 4. 1% EPS 1. 15 88% 2. 16 P/BV 1. 53 43% 2. 19 Performing loans growth 20% 21% Past due loan ratio 4. 8% 1. 9% Reserve Coverage 127% 154% 66% 72. 75 7. 2% 4

GFNorte´s Net Income MILLION PESOS 1, 090 921 582 1 Q 04 4 Q GFNorte´s Net Income MILLION PESOS 1, 090 921 582 1 Q 04 4 Q 04 1 Q 05 5

GFNorte´s Net Income MILLION PESOS 1 Q 04 1 Q 05 Var% Banking 453 GFNorte´s Net Income MILLION PESOS 1 Q 04 1 Q 05 Var% Banking 453 900 99% Long Term Savings 86 127 48% Brokerage 31 25 (19%) Auxiliary Organizations 18 43 139% 0 (4) - Holding (6) (2) (63%) GFNORTE 582 1, 090 87% Pronegocio 6

Banking Sector 7 Banking Sector 7

Banking Sector´s Income Statement MILLION PESOS 1 Q 04 1 Q 05 Var% Net Banking Sector´s Income Statement MILLION PESOS 1 Q 04 1 Q 05 Var% Net Interest Income after Repomo 2, 101 2, 749 31% Non Interest Income 1, 260 1, 047 (17%) Services Recovery Forex Trading 704 129 130 297 726 166 59 95 3% 29% (54%) (68%) Total Income 3, 361 3, 796 13% Non Interest Expense (2, 557) (2, 338) (9%) Net Operating Income 804 1, 458 81% Loan loss and loss sharing provisions (122) (243) 100% Non Operating Income (net) (149) 37 N. A. (98) (351) 258% 72 83 15% 507 984 94% Income tax and profit sharing Subsidiaries and minority interest Net Income 8

Net Interest Margin vs. CETES PERCENTAGES 9. 0 CETES 8. 8 8. 1 80% Net Interest Margin vs. CETES PERCENTAGES 9. 0 CETES 8. 8 8. 1 80% 7. 1 56% 6. 3 5. 4 NIM 4. 3 5. 0 4. 2 3. 9 1 Q 03 6. 2 5. 6 4. 9 2 Q 03 7. 2 6. 3 3 Q 03 4. 1 1 Q 04 2 Q 04 3 Q 04 4 Q 04 1 Q 05 9

Non Interest Income MILLION PESOS 1 Q 04 Trading & Fx 34% 1 Q Non Interest Income MILLION PESOS 1 Q 04 Trading & Fx 34% 1 Q 05 Trading & Fx 15% Services 56% Recovery 16% Services 69% Recovery 10% 10

Non Interest Expense BILLION PESOS 1 Q 04 Total Expense 2. 6 1 Q Non Interest Expense BILLION PESOS 1 Q 04 Total Expense 2. 6 1 Q 05 9% 2. 3 EFFICIENCY RATIO 76% 61% 1 Q 04 1 Q 05 11

Core Deposits BILLION PESOS Deposits 1 Q 03 1 Q 04 1 Q 05 Core Deposits BILLION PESOS Deposits 1 Q 03 1 Q 04 1 Q 05 Demand Time 53 34 60 35 64 36 Total 87 95 100 Demand 61% 64% Time 39% 36% 100% Mix 12

Cost of Deposits % of CETES 37% 30% 27% 1 Q 03 1 Q Cost of Deposits % of CETES 37% 30% 27% 1 Q 03 1 Q 04 1 Q 05 13

Performing Loan Portfolio BILLION PESOS 85 72 1 Q 04 87 4 Q 04 Performing Loan Portfolio BILLION PESOS 85 72 1 Q 04 87 4 Q 04 1 Q 05 Variation Qo. Q Yo. Y 1 Q 04 4 Q 04 1 Q 05 Consumer 24 29 30 4% 22% Commercial 25 29 29 (1%) 17% Corporate 13 14 16 16% 22% Government 10 13 13 (4%) 27% Total 72 85 87 3% 21% 14

Performing Consumer Loan Portfolio BILLION PESOS 29 4 Q 04 24 1 Q 04 Performing Consumer Loan Portfolio BILLION PESOS 29 4 Q 04 24 1 Q 04 30 1 Q 05 Variation Qo. Q Yo. Y 1 Q 04 4 Q 04 1 Q 05 Mortgage 14 17 18 4% 23% Car loans 6 6 6 1% 5% Credit Card 3 4 4 7% 36% Payroll loans 1 2 2 8% 48% Consumer 24 29 30 4% 22% 15

Loan Portfolio Transformation 1 Q 03 Government 8% Consumer 29% 1 Q 05 Government Loan Portfolio Transformation 1 Q 03 Government 8% Consumer 29% 1 Q 05 Government 14% Commercial 36% Commercial 33% Consumer 34% Corporate 27% $60. 3 billion pesos Corporate 19% 45 % $87. 4 billion pesos 16

Asset Quality BILLION PESOS 1 Q 03 1 Q 04 1 Q 05 Total Asset Quality BILLION PESOS 1 Q 03 1 Q 04 1 Q 05 Total Loan Portfolio 67 78 91 Past Due Loans 3. 7 3. 8 1. 7 Loan Loss Reserves 4. 7 4. 8 2. 7 Past due loan ratio 5. 6% Reserve Coverage 127. 2% 4. 8% 127. 2% 1 Q 03 1 Q 04 154. 2% 1. 9% 1 Q 03 1 Q 04 1 Q 05 17

Capitalization Ratio 1 Q 03 1 Q 04 1 Q 05 Tier 1 10. Capitalization Ratio 1 Q 03 1 Q 04 1 Q 05 Tier 1 10. 9% 10. 5% 12. 5% Tier 2 2. 4% 5. 0% 3. 6% TOTAL 13. 4% 15. 4% 16. 2% 81% 68% 77% Percentage of Tier 1 18

Recovery Bank 19 Recovery Bank 19

Recovery Bank MILLION PESOS 1 Q 03 Net Income 1 Q 04 1 Q Recovery Bank MILLION PESOS 1 Q 03 Net Income 1 Q 04 1 Q 05 121 151 206 1 Q 03 1 Q 05 Proprietary 51% Proprietary 29% Managed 49% Managed 71% 20

Recovery Bank ASSETS UNDER MANAGEMENT BILLION PESOS 58 Banorte risk (owned + auctions) Serfin Recovery Bank ASSETS UNDER MANAGEMENT BILLION PESOS 58 Banorte risk (owned + auctions) Serfin Portfolio 17 16 58 21 62 32 14 11 IPAB Porfolio 25 (servicing) 1 Q 03 23 19 1 Q 04 1 Q 05 21

Long Term Savings Sector 22 Long Term Savings Sector 22

Afore ASSETS UNDER MANAGEMENT BILLION PESOS 28 33 22 1 Q 03 1 Q Afore ASSETS UNDER MANAGEMENT BILLION PESOS 28 33 22 1 Q 03 1 Q 04 1 Q 05 CUSTOMERS MILLIONS 2. 3 2. 4 2. 1 1 Q 03 1 Q 04 1 Q 05 23

Insurance PREMIUMS SOLD BILLION PESOS 1. 1 1. 3 0. 6 1 Q 03 Insurance PREMIUMS SOLD BILLION PESOS 1. 1 1. 3 0. 6 1 Q 03 1 Q 04 1 Q 05 CUSTOMERS MILLIONS 2. 8 1. 7 0. 7 1 Q 03 1 Q 04 1 Q 05 24

GFNortes´s ROE and ROA ROE 26. 9% 2. 5% 16. 2% 1. 0% 1 GFNortes´s ROE and ROA ROE 26. 9% 2. 5% 16. 2% 1. 0% 1 Q 04 1 Q 05 25

2. Relevant Events 26 2. Relevant Events 26

Start up of Pronegocio Jan ‘ 05 Authorization from Hacienda. Mar ‘ 03 24 Start up of Pronegocio Jan ‘ 05 Authorization from Hacienda. Mar ‘ 03 24 branches operating and 16 to be open during 2005. Results: • 1, 536 customers. • $43 million pesos in loans. • $2 million pesos of past due loans. Loans characteristics: • Amount $10 to $50 thousand pesos. • Interest rate 3. 5% - 4% monthly. • Loan fee 3%. • Term Up to 24 months. • Collateral NAFIN at 80%. 27

Credit Card Campaign “Ya bájale” Characterístics: • Fixed interest rate 25%. • Term: 6 Credit Card Campaign “Ya bájale” Characterístics: • Fixed interest rate 25%. • Term: 6 to 36 months. • 4 months at 0% interest rate. • No annual fee. • 5 thousand Banorte points. Result as of May 2 nd: • 250 million pesos in loans. • 18, 544 pesos average balance per customer. 28

3. Economic Environment 29 3. Economic Environment 29

Economic Outlook Macroeconomic variables 2005 -2006 Variables 2005 2006 GDP 3. 70% 3. 20% Economic Outlook Macroeconomic variables 2005 -2006 Variables 2005 2006 GDP 3. 70% 3. 20% Inflation 3. 80% 3. 64% (0. 15%) 28 days Cetes (Average) 9. 49% 9. 01% 28 days Cetes (End od period) 9. 30% 8. 75% 11. 70 11. 95 (11, 500) (12, 000) 14, 500 13, 500 27 24 3. 70% 3. 50% Fiscal deficit (% GDP) Dollar exchange rate (End of period) Trade balance Direct Foreign Invesment Oil price GDP USA 30

Political Environment § Mexican macroeconomic fundamentals are strong, sustained by a prudent fiscal, and Political Environment § Mexican macroeconomic fundamentals are strong, sustained by a prudent fiscal, and monetary policies. § However, political noise could generate market volatility in 2 H 05 and beyond. At present, the market is focusing in the selection of presidential candidates. § Mexico city´s major Andrés López Obrador, who is today the leading man on the 2006 presidential polls , won a political battle concerning his impeachment case and thus has the possibility to run. § On the positive side both Institutional build up, as well as strong economic fundamentals, provide for a shield against populism and/or bad economic management. § It is still too early to have a clear view of whom are going to be the candidates and what will be their respective platforms. By this fall this should be clearer. 31

4. Final Remarks 32 4. Final Remarks 32

Long Term Goals ü Vision 20/20. • ROE of 20% sustainable. • Net Income Long Term Goals ü Vision 20/20. • ROE of 20% sustainable. • Net Income growth of 20% per year: double every 4 years. ü Improve efficiency ratio. ü Innovation and bancarization. ü Aquisition and retention of high worth customers. ü Goal achievement: net income. 33

Market Cap MILLION DOLLARS 3, 284 1, 990 1, 160 1 Q 03 =68% Market Cap MILLION DOLLARS 3, 284 1, 990 1, 160 1 Q 03 =68% AGR C 1 Q 04 1 Q 05 34

Daily Volume MILLION DOLLARS 8. 7 6. 7 1. 8 1 Q 03 1 Daily Volume MILLION DOLLARS 8. 7 6. 7 1. 8 1 Q 03 1 Q 04 1 Q 05 35

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