A spokesman for the Zurich-based bank said the proceedings in Germany against Vontobel were concluded with the payment of the fine.
Earlier on Friday, German newspaper Frankfurter Allegemeine Zeitung reported Vontobel had violated regulatory obligations, citing a judgement in a Munich court which it said concluded the Zurich bank had failed to maintain appropriate oversight.
In addition to Vontobel, its banker responsible for Hoeness' finances was also punished.
Senior prosecutor Ken Heidenreich in Munich told Reuters the banker received a suspended sentence of one year in prison and a 90,000 euro fine.
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Hoeness, a popular former Munich player who led the club in various roles for more than three decades, was sentenced to 3 1/2 years in prison for tax evasion in 2014 but was released earlier this year after serving half the term.
He was convicted for evading 28.5 million euros in taxes.
(Reporting by John Miller and Oliver Hirt; Editing by Mark Potter)
