The most common and most likely answer to this crossword clue is the 8 letter word DEPENDED
I've seen this crossword clue in The Daily Telegraph
D
E
P
E
N
D
E
D
More clues leading to the result DEPENDED
Buddy explains!
The straight part
We know that "Was banking" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case was banking = depended.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DEPENDED mean?
DEPENDED verb- (followed by on or upon, formerly also by of) To be contingent or conditioned; to have something as a necessary condition; to hinge on.
- (followed by on or upon) To trust; to have confidence; to rely.
- To hang down; to be sustained by being fastened or attached to something above.
- To be pending; to be undetermined or undecided.