Lloyds Banking Group is understood to have retained MEC on its £80m media planning and buying account.
The Drum has learned that the agency, which has held the account for six years, was informed of the decision today. It was up against Dentsu Aegis' Vizuem in the final round of pitches.
The review kicked off in October last year with Catherine Kehoe, managing director of group brands and marketing at Lloyds, who said at the time the relationship with MEC had been "very successful".
"As we look forward to the next five year period we need to ensure that our approach continues to deliver best value and quality across all media”
At the time of writing The Drum was awaiting a response from Lloyds.