Former CEO Ralph Hamers will not be punished for his role in a money laundering case at ING, Bank Disciplinary Law determined on Wednesday.
A proposal from 2018 to generously increase Hamers' salary was also no reason to punish him.
The Public Prosecution Service (OM) is still investigating the role of Hamers in the money laundering case.
Hamers was CEO of ING between 2013 and 2020.
During his leadership, the bank has done too little to combat money laundering.
The bank has reached a settlement of 775 million euros with the Public Prosecution Service for this.
Despite this, an investigation into Hamers' role in this was still ongoing.
That investigation was conducted by Disciplinary Law Banks, a body that checks whether bankers adhere to certain rules.
The body therefore decided on Wednesday that Hamers will go free.
That is not the end of the matter for him.
The investigation by the Public Prosecution Service is still ongoing, but it will probably take some time.
Disciplinary Law Banken also looked into another case, in which an increase in Hamers' salary was central.
In 2018, ING's supervisory board approved a proposal to increase Hamers' compensation by no less than 50 percent.
This sparked a wave of protests in society.
Under heavy pressure from politicians, among others, the increase was eventually reversed.
Disciplinary Law Banks may impose fines and professional bans on bankers who break the rules.
In the case of Hamers, however, it does not.
The body will, however, look further into the role of some ING supervisory directors, because they have approved Hamers' salary increase.
The former ING boss now works at the Swiss bank UBS.Keywords: