- Cut beef into 1-1/2-inch chunks; brown on all sides in hot oil in Dutch oven or large pan.
- Drain peaches; reserve syrup. Add enough water to peach syrup to measure 1 cup; stir into pan with teriyaki sauce, red pepper and bay leaf. Cover pan; bring to boil. Reduce heat and simmer 1-1/2 hours.
- Stir in onion, cinnamon and garlic powder; simmer, covered, 20 minutes longer.
- Meanwhile, combine flour and 1/4 cup water; stir into beef mixture and cook until slightly thickened.
- Cut bananas into 1-inch chunks. Stir into beef mixture with peach slices; heat through. Serve immediately.