Combine oats and water in a medium saucepan. Bring to a boil, then reduce heat to low.Simmer uncovered for 3 to 5 minutes until thickened, stirring occasionally. Remove from heat and let cool slightly. Add in almond milk and protein powder and stir in until well combined.

Divide equally between two bowls. Add peanut butter to a microwave safe bowl and heat for 30 seconds. Stir until smooth and drizzle each serving with 1 Tbsp of peanut butter. Add banana slices or any additional desired toppings and serve.