Only a five-star performance from City goalkeeper Joe Hart prevented Palace from picking up points at the Etihad.
"A lot of people had written us off and were expecting a Manchester City goal glut," said Bannan.
"But we showed we are capable of holding our own in this league.
"It wasn't backs to the wall. We managed to stop them hurting us and when they scored we were on top.
"Joe Hart has pulled off some great saves so it is a bit devastating that we ended up with nothing."
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