Royal Bank of Scotland (RBS) CEO Stephen Hester said Tuesday that the bank hopes to exit the government's asset protection scheme within its current five-year recovery plan, which has just over four years left to run, MarketWatch and other news outlets reported.

Hester also said the European Commission's decision to force the bank to divest its insurance business was more a "deterrent" for banks taking state aid, rather than a competition issue, though he added the final agreement is a compromise that is best for everyone. The bank has four years to dispose of its insurance operations and Hester said at the moment it looks like the best option would be a floatation of the business towards the end of that period, the report said.

GET MIDNIGHTTRADER IN REALTIME: This report is delayed. The full MidnightTrader extended-hours trading analysis and news service is available in real-time through COMTEX. For more information and to signup for a FREE TRIAL visit http://www.MidnightTrader.com/free_trial.php .

ABOUT MIDNIGHTTRADER: MidnightTrader is the premier source of extended-hours US equity trading analysis, news and forecasting for the retail and institutional investment community. MidnightTrader's extended-hours analytical trading service empowers both retail and institutional equity traders by providing the information necessary to make the most informed and opportunistic investment decisions.

News Provided by