Ferrari has boosted its relationship with financial giant Santander by extending an already substantial sponsorship agreement through to the end of the 2017 campaign.

The Spanish company had originally signed a five-year deal with Ferrari to coincide with the arrival at the team of double world champion Fernando Alonso in 2010 and, while the extended agreement through to the end of the 2017 season was first mooted ahead of the current F1 campaign, it was only formally concluded during last weekend's Italian Grand Prix, which was also sponsored by Santander.

"The history of the partnership between Scuderia Ferrari and Santander actually dates back to here in Monza, three years ago, and it is important to be back in the same place to celebrate the extension to our agreement, which will now run at least until 2017," Ferrari president Luca di Montezemolo commented, "These two global companies have many points in common, starting with their colour, a desire for excellence, a passion for competition, team work and the will to win."

The banking giant, which also appears on the overalls of McLaren drivers Lewis Hamilton and Jenson Button, will remain a Ferrari sponsor alongside Philip Morris International, Fiat, Shell, Acer, Kaspersky and AMD. As part of the new contract, the Scuderia has revealed that it will carry a special rear wing livery for the forthcoming Singapore Grand Prix, containing the phrase 'World's Best Bank' in recognition of a title awarded to Santander by financial magazine Euromoney.

"Once again, Santander has been judged to be the best bank in the world and we wanted to celebrate this recognition in a special way, by producing a one-off livery for the rear wing in Singapore, hoping it will be a good omen for us, as we strive to reach our targets for this season," di Montezemolo added.