September 11, 2018 / 10:12 AM / 3 months ago

Dutch finance minister says ING CFO's departure is fitting response

AMSTERDAM, Sept 11 (Reuters) - The departure of ING’s chief financial officer is a “fitting” response by the bank to its failure to prevent money laundering for years, Dutch Finance minister Wopke Hoekstra said in a letter to parliament on Tuesday.

ING earlier said CFO Koos Timmermans was stepping down, following a public backlash to the 775 million euros ($900 million) settlement ING agreed with Dutch prosecutors last week to end the money laundering investigation.

$1 = 0.8626 euros Reporting by Bart Meijer, editing by Louise Heavens

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