It's true that GrapheneOS is not rooted, and, unlike other non-rooted custom ROMs, allows re-locking the bootloader. But, whether a banking app will work depends on what level of Google Play attestation they require. While most banking apps work fine on it, a significant minority do not.
To be fair, this seems to be mostly a European problem. U.S. banks do not seem to enforce Play (dis)Integrity.
There's a crowd-sourced dataset here: https://privsec.dev/posts/android/banking-applications-compa...