Can retail banks have private shareholders?

Can retail banks have private shareholders who demand a normal return on equity given the risk taken? This is doubtful, because: Retail banking is very risky given the growing number of recessions. This means that the return on retail banks' equity should be high; Banking regulations require them to hold very large amounts of capital, the return on which is therefore low, which contradicts the previous point; There is, in addition, pressure from the authorities for banks to stop distributing dividends, both during and after recessions, which makes a normal return on equity impossible. So we cannot see how retail banks could generate the required return on the equity provided by private shareholders. They would then have to look for shareholders who accept a lower return on equity: there would then only remain mutual or public retail banks .