UPDATE 1-Sberbank sees '11 interest margin at 2010 levels

* Net interest margin seen at 5.8-6.0 pct in 2011

* Vs full-year 2010 forecast of 5.8-5.9 pct

* Creating investment banking arm ahead of state asset sale

(Adds details, quotes, background)

MOSCOW, Dec 10 (Reuters) - Russia's top lender, state-owned Sberbank SBER03.MM, sees its 2011 net interest margin (NIM) in line with this year's result, the bank's chief financial officer said on Friday.

"The net interest margin will be close to the levels, reached at the end of 2010 ... Between 5.8 and 6.0 percent," Anton Karamzin told reporters.

Sberbank's net interest margin decreased to 6.1 percent in the third quarter of 2010 from 8.1 percent in the same period last year.

Karamzin predicted this week that NIM -- a major factor affecting the results of the banking sector -- would not fall below 5.8-5.9 percent for the full year 2010. [ID:nLDE6B50V7]

He also said Sberbank could take part in the coming huge state asset sale as an adviser as it plans to set up its own investment banking division next year in a move to diversify the business and enter the lucrative market. [ID:nLDE6B01YK]

Russia plans to launch a $32 billion three-year privatisation programme next year, aimed at helping it cover its budget deficit. [ID:nLDE6AG1F1]

"I do not rule this out (the participation in the privatisation). But our (investment banking) strategy will be based on the offer of a wide range of services," Karamzin said.

"We want to focus on the business which generates commission fees...including privatisation."

The Russian investment banking market is dominated by foreign global investment majors as well as locals Troika Dialog, Renaissance Capital and VTB Capital, the investment arm of Russia's second biggest bank VTB (VTBR.MM).

Karamzin did not provide a forecast for Sberbank's potential market share in the new business sector.

Renaissance Capital sees Russia's investment banking sector growing by up to 50 percent next year, thanks to the privatisation plans and M&A activity. [ID:nLDE6B81SH] (Reporting by Oksana Kobzeva and Katya Golubkova; Editing by David Cowell)