diff --git a/spring-integration-ftp/src/main/java/org/springframework/integration/ftp/session/FtpSession.java b/spring-integration-ftp/src/main/java/org/springframework/integration/ftp/session/FtpSession.java
index cb5f7848a4..344670aee4 100644
--- a/spring-integration-ftp/src/main/java/org/springframework/integration/ftp/session/FtpSession.java
+++ b/spring-integration-ftp/src/main/java/org/springframework/integration/ftp/session/FtpSession.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2002-2020 the original author or authors.
+ * Copyright 2002-2023 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -111,6 +111,10 @@ public class FtpSession implements Session<FTPFile> {
 		if (!this.readingRaw.compareAndSet(true, false)) {
 			throw new IOException("Raw read is not in process");
 		}
+		if (FTPReply.isNegativePermanent(this.client.getReplyCode())) {
+			// The 'readRaw()' has failed - nothing to complete.
+			return true;
+		}
 		if (this.client.completePendingCommand()) {
 			int replyCode = this.client.getReplyCode();
 			if (LOGGER.isDebugEnabled()) {
diff --git a/spring-integration-ftp/src/test/java/org/springframework/integration/ftp/outbound/FtpServerOutboundTests.java b/spring-integration-ftp/src/test/java/org/springframework/integration/ftp/outbound/FtpServerOutboundTests.java
index 4b79754ead..51b9510679 100644
--- a/spring-integration-ftp/src/test/java/org/springframework/integration/ftp/outbound/FtpServerOutboundTests.java
+++ b/spring-integration-ftp/src/test/java/org/springframework/integration/ftp/outbound/FtpServerOutboundTests.java
@@ -758,6 +758,22 @@ public class FtpServerOutboundTests extends FtpTestSupport {
 		this.config.latch = null;
 	}
 
+	@Test
+	void finalizeRawIsOkEvenIfReadRawIsNot() throws IOException {
+		Session<FTPFile> session = this.sessionFactory.getSession();
+		IOException expectedException = null;
+		try (InputStream stream = session.readRaw("no_such_file")) {
+			stream.read(); // Just to avoid empty 'try' block
+		}
+		catch (IOException ex) {
+			expectedException = ex;
+		}
+		finally {
+			assertThat(session.finalizeRaw()).isTrue();
+		}
+		assertThat(expectedException).hasMessage("Failed to obtain InputStream for remote file no_such_file: 550");
+	}
+
 	private void resetSessionCache() {
 		((CachingSessionFactory<?>) this.sessionFactory).resetCache();
 	}