Usually it starts with a locked down laptop, then request after request, you get more rights, even admin on the laptop because otherwise you can't do anything as a software developer.

Most banks give you a crippled version of Admin rights via a 3rd party tool. If you need more than that, tough/you're doing it wrong.

Banks, at least in the U.S., are highly regulated and this would be very abnormal and subject to regulatory non-compliance, especially when the bank crosses into “big bank” territory. This stuff is regularly audited internally and externally.

You can dev without admin.