IL&P says has some exposure to Icelandic bank debt

DUBLIN, Oct 23 (Reuters) - Irish Life & Permanent (IPM.I) has some exposure to senior debt issued by Icelandic banks but the banking and insurance group has a strong and flexible capital position, a spokesman said on Thursday.

"In common with many other banks here, we do have some exposure to senior debt issued by the Icelandic banks which are being taken into state ownership," the spokesman said in an emailed statement.

"The Irish Life & Permanent group enjoys a strong and flexible capital position with no exposure to commercial property loans or development loans and we regard the situation as very manageable from our perspective -- regardless of what scenario unfolds."

The spokesman said the group IMP.L, whose shares were down more than 13 percent in Dublin, would be updating the market on the issue when it published its next trading statement in mid November. (Reporting by Jonathan Saul; Editing by Quentin Bryar)