Pros
There is real opportunity for career and skill growth. The company runs short on head count, so people willing to take on more responsibilities have avenues to progress. However, you will need to force the issue for promotions & large salary increases after you prove your capabilities. Realistically it'll take an external counteroffer to move the needle.
Cons
It's a large bank and you're a number in the system. If your NPV is positive you'll stay, else you'll be laid off. This includes both scenarios you control and those you don't.
Ex.
You control your performance, in office time and networking
You don't control if your location is a strategic growth site, if a major client goes with a competitor, or if you'd be impacted by a general company-wide layoff plan.