Preheat the oven to 350 degrees Fahrenheit.
Using a stand mixer, fitted with a paddle attachment; mix together the peanut butter powder, water, brown sugar and granulated sugar on medium-low speed foe 30 seconds. Turn the mixer off, using a silicone spatula scrape down the sides of the bowl. Then, add in the egg and vanilla extract. Mix again for 30 seconds.
In a separate bowl, mash the bananas. Then add to the stand mixer. Mix for an additional 30 seconds.
Then, add in the all purpose flour, baking soda, ground cinnamon, and salt. Mix until combined 30 seconds-1 minute. Then pour in the chocolate chips.
Spray a loaf pan with cooking spray. Using the silicone spatula, spread the batter into the loaf pan. Bake for 1 hour and 10 minutes or until toothpick inserted in the middle comes clean. Remove the banana bread from the oven. Let rest in pan for 30 minutes, then remove to a plate to continue cooling.
Once cooled, make the frosting. In a stand mixer, fitted with a paddle attachment cream the salted butter with powder sugar. Then add in the peanut butter powder, and water. Mix for 20 seconds on medium-low. Then begin to add in the cream. Beat on high for 1 minute.
Spread the frosting on top of the bread. Top with chopped peanuts and mini chocolate chips. Slice and enjoy.