Deutsche Bank scoops art sponsorship prize

Deutsche Bank has won the Lloyds Arts & Business Prize for Innovation for its sponsorship of the creative sector over the past 30 years.

Organiser Arts & Business awarded the prize to the bank last night for its sponsorship of the Frieze Art Fair over the past five years, as well as for its support of the Royal College of Art and the Royal Academy of Arts.

Deutsche Bank owns the largest collection of contemporary art in the world, consisting of 53 000 works collected since 1979. It claims to spend £500 000 a year on arts education programmes.

In 2008, the bank launched the Arts & Education Awards in partnership with Arts & Business, the Arts Council and other partners.

Deutsche Bank beat beer brand Beck’s, which runs the art- and design-led Beck’s Canvas and Beck’s Fusions initiatives, to scoop the prize.

BP, Land Securities and Sky Arts were also nominated for their patronage of the arts.

The award was presented to Deutsche Bank at the Victoria & Albert Museum last night, as part of the 30th annual Arts & Business Awards.