"I am pleased that Lloyds Bank plc, which currently employs c.200 surveyors, has chosen LSL as its partner to provide this service for the Bank."
Lloyds' surveying and valuation services have historically been carried out in-house, and its existing surveyors and back-office employees will transfer to e.surv as part of the contract.
After a period of integration and transition, the provision of valuation services by e.surv is expected to commence in the third quarter of 2018 and the services will be fully operational during the final quarter of 2018.
Lloyds says it expects the contract to enhance it's earnings after the requirement for specific one-off transition and integration costs.
Ian Crabb, group chief executive officer of LSL, parent company of e.surv, said: "I am pleased that Lloyds Bank plc, which currently employs c.200 surveyors, has chosen LSL as its partner to provide this service for the Bank.
"This contract award demonstrates the market leading proposition that e.surv is able to offer its customers and reflects well on the technology investment which e.surv has made to enhance its proposition through the development of a market leading Surveying IT platform.
"I would also like to take this opportunity to welcome our new colleagues into the LSL Group."
