Iceland's Exista says financial position unclear

STOCKHOLM, Nov 27 (Reuters) - Icelandic financial services firm Exista EXISTA.IC said on Thursday its financial position was unclear but it believed the group had the ability to deal with Iceland's financial shocks.

"Exista's position is unclear at this time," it said in a statement as it announced a pretax loss of 88.9 million euros ($115 million) in the third quarter.

The third quarter ended just before Iceland's economy collapsed in early October, when the state was forced to take over top banks Kaupthing, Landsbanki and Glitnir.

"When the banks fell, the group had assets in excess of liabilities in the Icelandic banking system, and it is still unclear whether and when the banks' obligations towards Exista will be met," the firm said in a statement.

"For this reason, the group's asset position is uncertain. In spite of this uncertainty, we believe the group has the capacity to weather these shocks. Within Exista are solid Icelandic companies with strong market position."

Exista shareholders at the end of last month approved the delisting of the company from the stock exchange and granted the board of directors "extensive authority to take action in order to secure the group's position for the long term".

Reuters monitors official statements from Icelandic authorities and institutions from its Stockholm newsroom.