CREDIT BANK IN HUNGARY TO SELL EQUITY

CREDIT BANK IN HUNGARY TO SELL EQUITY

The new head of Hungary's largest commercial bank said Tuesday he expects the state to sell part of its 49 percent stake to foreign investors in a move that could bring an injection of Western expertise.

Arpad Bartha, who takes over as chairman and chief executive of the Hungarian Credit Bank on Thursday, said he hopes banks from several Western countries would buy up to 20 percent of the bank's equity.''With the budget problems, I guess the government will probably sell part of its equity," he said.

The Hungarian government has promised the International Monetary Fund it would cut Hungary's budget deficit to 10 billion forints ($152 million) this year, less than a fifth of the 1989 deficit.

Mr. Bartha said Western banking shareholders would help Hungarian Credit Bank catch up with the industry's latest technology and internal accounting procedures.

''We need the expertise," he said. "We would like to pick several banks from several countries . . . We would also want our shareholders to open up a new line of customers for us."