The bank has invited its roster agencies -- WWAV Rapp Collins, Partners Andrew Aldridge, FCBi and Tullo Marshall Warren -- to compete for the business in a review managed by the AAR.
Lloyds TSB initiated a review of its direct business as part of a reassessment of its marketing operations last September.
The bank plans to have one agency for each discipline, placing the successful direct agency alongside its existing advertising agency, Rainey Kelly Campbell Roalfe/Y&R.
Reports that the bank is also reviewing its £18.5m media planning business, currently held by ZenithOptimedia, are still unconfirmed, but Lloyds TSB said that none of its other agencies would be affected by the review.
Last month the bank began its first corporate social responsibility TV drive to back its £10m Note for Note music for schools programme. The scheme is intended to piggyback on the success of Tesco's Computers for Schools programme and give Lloyds TSB greater credibility with customers.
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