Yeah, but it is indefinite, "a bench" rather than the definite "the bench."
Maybe they want us to know that some times when you hear banco it is not a bank.
I will remember el banco for bench by imagining myself SITTING on the BANK of a river. That way, it covers both bank and bench. Beyond that, I will have to know by context what is being spoken about.
In Filipino, BANG-ko (banco) means money bank while bang-KO means chair or maybe bench. I'm not sure, maybe in Spanish, it's also pronounced a different way.