Banana Chocolate Chip Bread

1 cup sugar
1 egg
1/2 cup butter
1 cup mashed bananas
3 tablespoons milk
2 cups sifted flour
1/2 teaspoon baking soda
1 teaspoon baking powder
1 cup chocolate chips
1/2 cup finely chopped pecans
Preheat oven to 350 degrees. Cream sugar, egg and butter together in large mixer bowl. Beat until fluffy. Set aside. Combine bananas and milk in small bowl. Stir by hand into reserved banana mixture alternately with reserved banana mixture until flour is just moistened.
Stir in chocolate chips and pecans. Grease 1 (9x5x3-inch) loaf pan. Turn batter into pan. Bake at 350 degrees for 1 hour, or until toothpick inserted in center comes out clean. Cool in pan for 10 mins. Remove from pan. Cool on rack.