OREANDA-NEWS. On September 28, analysts of Alfa Bank published their comment on previously released VTB1H07 IFRS results, which reads that since "VTB’s management indicated that 2007 net profit is likely to either roughly equal the $1,172 mln reported for 2006 or to exceed it only slightly, we intend to cut our net profit expectations for VTB of $1,373 mln by 9% to only $1,256 mln. This figure would imply an ROE of just 10.8% for2007."  Still, the experts believe that the structure of VTB’s revenues has significantly improved. While in 1Q07 only 77% of its revenues came from net interest income and fees income, in 2Q07 these items contributed 94% of the bank’s revenues. The experts also reiterate their view that VTB’s state-owned status will help the bank increase its market share in future.