PREVIEW-UniCredit, Intesa SP Q3 net seen sharply lower
* UniCredit net seen down 31 pct, Intesa SP's down 36 pct
* Focus on Intesa SP's plans to list or sell assets
* Intesa SP Q3 on Tuesday, UniCredit on Wednesday
By Ian Simpson
MILAN, Nov 6 (Reuters) - Italy's two biggest banks, UniCredit SpA (CRDI.MI: Quote, Profile, Research) and Intesa Sanpaolo SpA (ISP.MI: Quote, Profile, Research), are expected to post sharply lower third-quarter net profit next week, hit by shrinking net interest income and lower margins.
Markets will focus on Intesa Sanpaolo's cost-cutting and updates on plans to boost capital ratios, now at the low end among big European banks. Italy's biggest retail bank says it will list or sell 11 billion euros ($16.36 billion) in assets, including asset manager Banca Fideuram, to help bolster ratios.
Intesa Sanpaolo is expected to post net income of 461.5 million euros, down from 673 million euros in 2008, according to the average forecast from six analysts contributing to Thomson Reuters I/B/E/S.
UniCredit, the biggest lender in central and eastern Europe, is seen with net income of 353.6 million euros, falling from 551 million euros in the same period last year, according to the average I/B/E/S forecast from 10 analysts. Continued...
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