Professor Bankole is an alumnus of University College, Ibadan, where he obtained his first degree in Medicine between 1953 and 1960. In 1962, he migrated to the United States of America for Postgraduate Residency Training for six years. In 1968 he became the first Nigerian Consultant Paediatric Surgeon in University of Ibadan till 1972.
Prof. Bankole was a foundation staff of the University of Ife, Faculty of Health Sciences in 1972 and he emerged the second Dean of the faculty between 1975 and 1979. Between 1985 and 1991, he also became the foundation college Registrar of the National Postgraduate Medical College of Nigeria. In 1991, he went on economic sojourn to Saudi Arabia and returned in 2001. He worked with Lagos State University Teaching Hospital in the surgical department till his retirement in 2016.