ING adds third race to F1 roster

(GMM) The Dutch bank ING will sponsor a third formula one race in 2008.

The Amsterdam based international company had naming rights for the Australian and Belgian grands prix last year, as well as being Renault's title sponsor.

It was announced on Monday that the Hungarian grand prix, held at the Hungaroring in August, will also be principally backed by ING this year.

Moreover, the bank's logos will be displayed at 13 of the 18 grands prix in 2008.

"Hungary is the only grand prix in central and eastern Europe, and it's vital that we successfully use the grand prix to continue to build ING's brand in the region," said Isabelle Conner, head of marketing.

While apparently pleased with its F1 involvement, ING's Conner was quoted last week as suggesting that the brand is keen to see Renault return to top form in 2008.

"It is in the contract that Renault is a top three team," she reportedly revealed to Dutch media.