Lloyds TSB selects Saatchi for £25m Euro launch of online bank

Lloyds TSB has appointed Saatchi & Saatchi to handle the &£25m pan-European launch of standalone online banking service Evolvebank.com.

The agency, which already handles Lloyds TSB’s &£30m advertising account, will devise the branding strategy and ads for this year’s launch.

Interfocus has won the below-the-line account.

Evolvebank plans to spend up to &£25m this year. It will launch in the Spanish market first, working with local agency Ruiz Nicoli. The UK launch will follow later in the year.

Lloyds TSB will spend a similar amount next year when rolling out the service in France, Germany and Italy. Saatchi is believed to have beaten a number of agencies with European networks to the brief.

Lloyds TSB is spending up to &£300m on the project and aims to have 1.5 million subscribers by 2003.

Evolvebank will offer current accounts, credit cards and credit accounts. Eventually it plans to offer share-dealing services.

Evolvebank European marketing director Barbara Lauer says: “We look forward to powerful and creative work which will launch the bank throughout Europe.”