LONDON- HSBC will end its sponsorship of British cycling after the 2020 Olympics, a source familiar with the matter told Reuters on Tuesday.

The British bank is only four years into a multimillion pound deal, but is seeking to cut costs as part of a wider restructuring announced last Tuesday.

A spokesman for British Cycling confirmed that HSBC had ended the contract.

(Reporting by Lawrence White Editing by Rachel Armstrong ) ((rachel.armstrong@thomsonreuters.com; +44 207 5423365; Reuters Messaging: rachel.armstrong.thomsonreuters.com@reuters.net))