Metrobank (for business customers) in the Philippines. Regular customers of the same bank have a different app with less strictness.

And yes, root hiding works on a test phone (which has a copy of the app not linked to my bank account), and the TOTP seed can be extracted from memory using Fridump and imported into a different app. But obviously, this won't pass the "manual inspection of the phone" step, because they will likely find the renamed Magisk app.

Thanks, that's very interesting that a business account in the Philippines has so much security. I think if a bank tried that here in Europe (inspecting phones) folks wouldn't like the privacy intrusion. Though, I think apps can be hidden from the launcher (and perhaps also the settings app with some more effort)?