RBS also said it will review all its sponsorship contracts as they run out, but suggested its involvement with sports will continue. UK newspaper The Telegraph reports RBS will maintain the sponsorship of the US Open, Six Nations rugby and Scottish tennis player Andy Murray.
“It remains our view that well chosen, strategic sponsorships can be a very cost-effective way to market our brand, engage our customers and also support sporting, cultural and other events and activities that enhance the communities in which we operate,” read a statement released by the bank.
The state-owned bank announced in February 2009 it would not renew its three-year deal with Formula One team Williams, which expires at the end of the current season.
