Preheat your oven to 350°F and grease a 9x5-inch loaf pan. This prevents the bread from sticking.
In a large mixing bowl, cream together the softened butter and sugar using a hand mixer until light and fluffy. This step helps create a tender crumb.
Beat in the egg until fully incorporated.
In a separate small bowl, mash the ripe bananas and stir in the milk. Set this aside.
In another bowl, whisk together the flour, baking powder, and baking soda. Gradually add this to the creamed mixture, alternating with the banana mixture, until just combined.
Fold in the chocolate chips and, if desired, the chopped pecans. Be careful not to overmix, as this can make the bread dense.
Pour the batter into the prepared loaf pan, smoothing the top to create an even surface.
Bake in the preheated oven for 60-70 minutes, or until a toothpick inserted into the center comes out clean with just a few moist crumbs.
Let the loaf cool in the pan for 10 minutes, then transfer it to a wire rack to cool completely. The bread slices best once fully cooled.