Why do I want to do commercial banking? (2024)

Why do I want to do commercial banking?

You could explain that you have always been interested in finance and banking and feel that a career in banking would allow you to use and develop your skills in this area. Professional growth opportunities: The banking industry offers many opportunit.

Why are you interested in a career in commercial banking?

Talk about the banking industry

Think about which aspects of banking are most interesting to you and match your personality well. Perhaps you're interested in the large variety of careers available in this industry or the open opportunities at a certain company provide a level of professional growth that attracts you.

Why do people choose commercial banks?

Commercial banks are a critical component of the U.S. economy by providing vital capital to businesses and individuals in the form of credit and loans. They provide a secure place where people save money, earn interest, and make payments through checks, debit cards, and credit cards.

How do you answer why did you choose banking?

Sample Answer:

The banking industry is lucrative and plays an important role in our economy. It offers challenging roles and opportunities to develop skills and knowledge. The dynamic nature of the industry and its relevance in the economic scenario is why I want to pursue a career in the banking sector.

Why are you interested in corporate banking?

Corporate banking is appealing as it is the primary relationship role for many product groups on the trading floor, credit analysis is more interesting and returns are more certain than fluffy concepts such as accretion/dilution, and in corporate banking the analysis is based on that of an investor instead of an ...

What makes commercial banks unique?

Commercial banks serve much larger customers than the standard retail bank, which is designed for individual account holders and some small businesses. These large banks are designed to handle the needs that businesses have for large loans, lines of credit, and deposit accounts.

What makes commercial banks different from other banks?

The key difference between retail and commercial banking is who the products are designed for. While retail banks service individuals, communities, small businesses, and families, commercial banks focus on larger companies, government entities, and institutions.

What are 2 advantages of a commercial bank?

Discounts: Commercial banks offer services to the customer at discounted rates. Product offerings: Commercial banks offer more product offerings to the customers in the form of loans, credit cards, fixed deposits, recurring deposits, mutual funds etc.

What is it like to work in commercial banking?

Key Highlights. Commercial bankers are financial advisors in client-facing roles for a wide range of businesses (medium-to-large-sized). Bankers may be industry generalists or specialists, who engage and consult with various businesses, understand their needs, and offer customized financial solutions.

Why do you want this job?

Sample Answer 1: Passion and Alignment

"I am genuinely excited about this job because it aligns perfectly with my career aspirations and personal interests. I have a strong foundation in [relevant field], and this role at [company name] presents an exciting opportunity to apply and further enhance my skills.

How do you introduce yourself in a bank interview?

“Good [morning/afternoon/evening], my name is [Your Name]. I am thrilled to be here today. With [X years] of experience in the banking industry, I have had the privilege of working in various roles, from [mention previous roles] to [mention any specializations].

Is it hard to get into commercial banking?

Commercial bankers are typically required to earn a bachelor's degree in accounting, finance, communications, or another related field, as well as have some work experience in the financial services industry.

Where do you see yourself in 5 years commercial banking?

If you're applying for a job as a banking associate, you can also say that five years hence you see yourself as a junior or mid-level vice president at the firm, adding that you look forward to moving up the ladder of the organization because of your contributions each step of the way, advises veteran recruiter Richard ...

What is the difference between corporate banking and commercial banking?

Corporate banking refers to the aspect of banking that deals with corporate and other business customers. Commercial banks make loans that enable businesses to grow and hire people, contributing to the expansion of the economy. Both types of banks offer various products and services.

What do commercial banks mostly specialize in?

While commercial banks mostly specialize in short-term business credit, they also make consumer loans and mortgages, and have a broad range of financial powers.

What are your strengths and weaknesses in banking interview?

For instance, you might say, "One of my strengths is my meticulous nature, helping ensure accuracy in complex financial tasks. Conversely, I acknowledge that I can be too detail-oriented at times, potentially slowing productivity.

How do you nail a bank interview?

During a banking interview, one must exhibit the interview skills that make someone a good banker. These include time management, teamwork and listening skills. Focus on how your skills and experiences have helped you succeed in the past.

Should I go into commercial banking?

“Commercial bankers get a bad reputation sometimes,” he says (perhaps an understatement). But “it's a great career, you can have a life, you can retire well, you can do all those things, which they're interested in.

What are the 5 functions of a commercial bank?

What are the four functions of a commercial bank?

Commercial banks have the primary functions of accepting customer deposits in the current account, savings, and fixed deposits, lending money as credit to borrowers who then pay with interest, and disbursing payments in the form of transactions and customer payments.

What do commercial bankers do?

Issuing deposit products, such as checking and savings accounts. Providing business development services, such as brand development, financial planning, product development and marketing. Providing lending services, such as commercial real estate lending, equipment financing and working capital for businesses.

What are the strengths of commercial banks?

Merits of Commercial Banks

Loans can be repaid in advance when funds are not required. Banks keep the borrower's information confidential and secure. Banks provide assistance in time of need to businesses by providing funds.

What are the pros and cons of a commercial bank?

Commercial banking allows customers to get loans at low-interest rates. Commercial bank accounts are often more expensive than traditional bank accounts. Banks may charge fees for night deposits, for processing a certain number of cheques and for payroll services.

What are the disadvantages of commercial banking?

How many hours a week do commercial bankers work?

However, a 100-hour work week only occurs on a particularly busy and hectic week. For the most part, you can expect to have at least 70 working hours a week; and even that is stressful enough considering the average working hours for other vocations is around 40 to 50 hours.