Deputy State Prosecutor Shai Nitzan decided to close the criminal case against Bank Hapoalim Director-General Zion Kenan due to lack of evidence on Tuesday.
Early last year the state opened an investigation into Kenan on allegations of receiving bribes and breach of trust. He was suspected of granting illegal loans to former Bank Hapoalim chairman Dan Dankner.
Dankner was ousted from his position for alleged breaches of corporate governance. The case is already under investigation. He was questioned in connection with receiving millions of shekels in loans allegedly granted improperly when he was chairman.
Globes contributed to this report.