– Skye Bank Interview Question –
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Here you will find different categories of test questions and answers for study.
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The test questions below are taken from past Polaris Bank (Skye Bank Plc) recruitment questions from previous years. Be guided accordingly.
About Polaris Bank (Skye Bank Plc)
Skye Bank Plc is a product of the merger of five legacy banks as a result of the banking industry consolidation and recapitalization exercise of 2005.
The legacy banks were Prudent Bank Plc, EIB International Plc, Bond Bank Limited, Reliance Bank Limited and Co-operative Bank Plc.
Following the merger and the seamless integration of the disparate resources, personnel, IT infrastructure, culture and procedures.
The bank has since grown into a formidable financial institution showing strong growth and profitability and providing unique financial solutions to a wide customer base both in Nigeria and in the three West African subsidiaries of Sierra Leone, Gambia and Guinea.
In 2014, in our continuous quest to provide a better customer experience, Skye Bank won the bid to gain the 100 per cent ownership stake of Asset Management Corporation of Nigeria () in Mainstreet Bank Limited, a deal which made Skye Bank one of the top four banks in Nigeria.
Mainstreet Bank’s operations have since been integrated into the bank’s operations in one of the smoothest and hitch-free integration processes recorded in the Nigerian banking industry, enabling it to offer banking services to a wider segment of the Nigerian population and with a significant positive impact on the bank’s balance sheet, financial performance and profitability.
Polaris Bank (Skye Bank Plc) is quoted on the Nigerian Stock Exchange (NSE) with over 450,000 diverse shareholders with a shareholding structure that puts only 5% in the control of any one individual or company.
Bank Vision: To be a leading and first-class commercial bank.
Our Mission: To distinguish itself in the banking industry through excellent service quality steeped in the use of Information and Communication Technology (ICT).
How Polaris Bank (Skye Bank Plc) Interview Applicant
1. The ‘Why Banking’ Questions:
Banking is notoriously hard to work. If you’re an entry-level candidate, recruiters will therefore want to ensure that you know what you’re letting yourself in for.
When you’re answering ‘why banking’ questions, you need to be original and specific. ‘Avoid stating the generic’ says Mergers and Inquisitions.
It helps to reference bankers you’ve spoken to (especially if they work for the firm you’re interviewing with) and the extent to which they inspired you.
Talk about your passion for the industry. For example, explain why you think banking is more rewarding than consulting.
When you’re interviewing for a role in M&A in particular, you need to show that you’re “super-committed,” says Derek Walker, an independent careers consultant and a former director of campus recruitment at Barclays and of staffing for the investment bank at Merrill Lynch (before it was combined with BofA).
“Corporate finance interviews don’t want to hear that you’re seeing their role as a means to something else,” adds Walker.
“If you go into corporate finance, you’re going to have to work really, really hard and if you’re not absolutely passionate about it you’re not going to be willing to work long hours.”
2. The ‘Why This Bank’ Questions
Don’t just regurgitate easy to find information in the public realm. Do make sure you do in-depth research–recruitment advisors suggest talking to existing employees so that you can use specific information about what it’s like to work for that firm. We provide a list of other information sources here.
“Unfortunately, people don’t always bother doing the most basic research on the company,” says the head of recruitment at one international bank.
“What’s really needed here is something that explains why you think the bank you’re applying for is different to and better than the rest.”
You’ll need to research every bank you’re interviewing with, he says. Your answers need to be specific: you need to find something that makes the bank stand out and to go with that.
In the case of Nomura, for example, you might say you want to work for a bank with strong Asian connections so that you have exposure to the .
3. The ‘Why This Job’ Questions
Rather than focusing on why you want the job in question, here you need to focus on what you can bring to it.
What, specifically, have you done in the past that will suit you to perform well in this job in the
future? Having said that, you need a detailed understanding of the requirements of the job in order to respond aptly.
THE BRAINTEASERS
Answering brainteaser questions is about method and attitude, says , an ex-Goldman Sachs and Perella Weinberg associate who now offers advice on preparing for investment banking interviews.
Banks want to hear your thought processes and to see that you’re flexible enough to attempt a solution. This is particularly the case for question 20 – where there is no hard answer.
You might think the snail climbs a net of two feet a day and so reaches the top of the 10-foot pole at the end of five days. This is wrong. “Skye Bank Interview Question”
On the morning of day five, the snail starts out at the eight-foot mark after sliding down from the nine-foot mark overnight.
It reaches the top of the pole two-thirds of the way through the fifth day and then stops because there’s nowhere else to go. “Skye Bank Interview Question ”
THE CURRENT MARKET KNOWLEDGE QUESTIONS
Current market knowledge can’t be prescriptive – by definition, it changes all the time. Make sure you know current key market metrics and have opinions about market trends and a selection of investment ideas.
THE PAST EXPERIENCE QUESTIONS
Before you step into a finance interview, you need to know your CV inside out.
Make sure you can answer detailed questions about any and every aspect (your choice of university and university course, your experiences as an intern, how you added value in a previous role) of your CV.
Be prepared to use the S.T.A.R. technique to frame responses to questions about your past.
You’ll need some examples of situations you were in, tasks you were asked to perform, actions you took and results you achieved.
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THE TECHNICAL INVESTMENT BANKING QUESTIONS.
If you’re interviewing for a junior job in IBD, Matan Feldman at Wall Street Prep says technical knowledge is becoming increasingly important.
This is echoed by other finance interview preparation professionals: banks want people who know the basics, even if you haven’t worked in finance (or studied finance) previously.
1. Define Beta
Beta tells you how much the price of a given security moves relative to movements in the overall market.
A Beta of 1 means that if the market moves, the stock moves in unison with the market. A Beta < 1 means that if the market moves a certain amount, the stock will move less than that amount.
A Beta >1 means that if the market moves a certain amount, the stock will move more than that amount.
2. Define CAPM
CAPM is the capital asset pricing model, and it is a model designed to find the expected return on an investment and therefore the appropriate discount rate for a company’s cash flows. It provides the required rate of return given the riskiness of the asset.
3. What’s WACC and how do you calculate it?
WACC is the weighted average cost of capital. To calculate it, you need to multiply the cost of each capital component (common stock, preferred stock, bonds and any other long-term debt) by its proportional weight and take some of the results.
WACC shows the average rate of return a company needs to compensate all its different investors. ” Skye Bank Interview Question ”
4. What is accretion and dilution?
Accretion is asset growth through addition or expansion. Accretion can occur through a company’s internal development or by way of mergers and acquisitions.
Dilution is a reduction in earnings per share of stock that occurs when additional shares are issued or the stock changes into convertible securities.
5. Walk me through a DCF…
A DCF proposes that the value of a productive asset equals the present value of its cash flows.
You’ll also need to talk about relative valuation multiples, in which you value a company similar to its peers based upon measures like enterprise value/revenue, enterprise value/EBITDA, and the price/earnings ratio.
6. Walk me through a DCF backwards
The three methods are DCF, public comparables (comparing other publicly traded companies) vs. transaction comparables (similar companies that have been involved in previous transactions).
Each has its advantages: a DCF shows the maximum a company is worth – not just the value the markets assign to it. The transaction comparables take into account the synergies that can be expected to flow from a deal.
THE TECHNICAL MARKETS QUESTIONS
Options derive their prices from the value of other assets and are contingent upon specific events.” Skye Bank Interview Question ”
The value of the option will depend on factors including the value of the underlying asset; the variance in the value of the underlying asset, the strike price at which the option comes into effect, the time to the option’s expiration and the riskless interest rate relating to the option’s life. Click here for a detailed guide.
THE CULTURE QUESTIONS
“Banks are increasingly realising that excellence isn’t just about making money,” says Logan Naidu at recruitment firm Dartmouth Partners.
“Expect to be asked questions relating to banks’ own values and come with firm examples about how you’ve tackled ethical dilemmas.”
FAQ About Polaris Bank (Skye Bank Plc) Interview Questions
1. How does someone get hired at Polaris Bank (Skye Bank Plc)? What are the steps along the way?
Basically, apply in response to published vacancies – online or by direct submission of CV- which will be screened and if they meet the criteria they are invited for either direct interview and engagement or write qualifying exams and if successful attend an interview to qualify for engagement.
2. What interview questions do they ask at Polaris Bank (Skye Bank Plc)?
Tell us about yourself, whats are your strength and weakness.
3. What is the organisational culture at Polaris Bank (Skye Bank Plc)?
The organisation is fine and well structured. “Skye Bank Interview Question’
In the past, it was a closely-knit family unit until the acquisition of that brought in a strange culture and a laid back attitude that also bred a high level of distrust and unhealthy competition amongst the erstwhile closely knitted workforce.
4. What is the Polaris Bank (Skye Bank Plc) employee discount?
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