Banks, who also co-starred in and produced the original, is returning in the same capacity to the sequel.
Anna Kendrick and Rebel Wilson, who also starred in the original, are likely to return, the Hollywood Reporter said quoting insiders.
The story of the first movie revolved around a freshman who reluctantly joins a college cappella group called the Bellas and leads it to the finals.
"Elizabeth originated the idea for Pitch Perfect and was instrumental in making the first film such a huge success. She brings an enormous amount of energy and experience to everything she works on and we're thrilled that she is making her feature directorial debut on Pitch Perfect 2,"said Universal Pictures chairman Donna Langley.
