Preheat oven to 350°F (175°C). Grease and line your baking pan(s). In a large bowl, sift together the flour, cocoa powder, baking powder, baking soda, and salt. In another large mixing bowl, whisk together the sugar and eggs until light and fluffy.
Stir in the mashed bananas, vegetable oil, and vanilla extract. Mix well. Gradually add the dry ingredients to the wet mixture, stirring until just combined. Slowly pour in the hot water, mixing gently until smooth. The batter will be thin—this is normal.
Pour the batter evenly into the prepared pan(s). Bake for 35–40 minutes, or until a toothpick inserted in the center comes out clean.
Remove from oven and let cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.
In a saucepan, heat the heavy cream until it begins to simmer (don’t boil). Pour the hot cream over the chopped dark chocolate in a heatproof bowl. Let sit for 2–3 minutes, then stir until smooth and fully melted.
Mix in the powdered sugar and vanilla extract until creamy and glossy. Let the frosting cool slightly until it thickens to a spreadable consistency.
Once the cake has cooled completely, spread the chocolate frosting evenly over the top and sides.
Optionally, decorate with banana slices, chocolate shavings, or nuts. Slice and serve!