On GrapheneOS you can install your bank app in a different user profile, and run Google Play sandboxed, so this scenario of a bank app doesn't result in anyone having access to your other information.
If you dont need any of the above its perfectly fine to run the banking app on your single, main profile.
If you have Google Play in the same sandbox as your banking app, why can't Google access everything there? Or are they in different sandboxes?