Mix the condensed milk and water

• Pour the sweetened condensed milk into a mixing bowl.
• Add the cold water and stir until well combined.

Add the instant pudding

• Pour in the instant vanilla pudding mix.
• Beat with a spoon until most clumps are gone.

Fold in the whipped topping

• Add one container of whipped topping and mix until blended.
• Add the second container and mix until smooth.

Layer the pudding

• Line the bottom of the dish with vanilla wafers.
• Spread a layer of pudding over the wafers.
• Top with sliced bananas.
• Repeat the layers one more time with wafers, pudding and bananas.

Garnish and chill

• Crush a handful of vanilla wafers and sprinkle over the top.
• Refrigerate until ready to serve.