Banking, Finance & Insurance

CFP
Financial Planning for Individuals
The focus of CFP is to create professionals who can advise individuals on managing their personal portfolio and planning for the future. Certified Financial Planners advise people on many areas, such as investment management, estate and retirement planning, tax planning, personal cash flows and insurance. Some Certified Financial Planners may also form partnerships with people such as lawyers and tax experts
CFA
Financial Analysts
The exam focuses on developing professionals who can do financial analysis and manage large sums of money. The designation, which opens up opportunities for jobs that are otherwise difficult to get into, has a very broad scope. It can be described as equivalent to a Masters degree in finance with accompanying minors in accounting, economics, statistical analysis and portfolio management.

Some more details such as if you are already selected for Bank PO and MBA, would have been helpful. If you got both of them in your hand and it is a question of choosing between two, unless MBA is from a premier institution, I recommend you to join the Bank. If you got admission for MBA in a reputed university, it is undoubtedly the better option. If you don't have either on hand and you want to decide your next step, aim for MBA in IIM, XLRI and likes. Alternately, get a Bank PO job, work for 3-4 years and then go for MBA. This obviously helps you acquire relatively better knowledge in the specialisation you opt for, due to working experience.