Bank to turn,

I think you are misinterpreting Simon's drag budget illustration.

Induced drag is proportional to the coefficient of lift squared divided by the effective aspect ratio. In a highly banked tight turn at a constant altitude, the wing is operating near its maximum lift coefficient and the induced drag is more than half the total drag of the aircraft. The component of the lift force that equals weight is the lift force times the sine of the angle of bank and the component of the lift force that resists centrifugal force is the lift force times the cosine of the angle of bank. Simons drag budget illustration applies to wings-level flight, not a highly banked, tight turn.