In large mixing bowl, cream sugar, egg, and butter with electric mixer until mixture is fluffy, about 3 minutes. Set aside. In small mixing bowl mix bananas and milk. Set aside. Sift together four, baking powder, and baking soda onto paper plate. Add dry ingredients to creamed butter mixture alternately with banana mixture, stirring together with rubber spatula until dry ingredients are blended, about 1 minute. Stir in chocolate chips and pecans.
Spoon batter into a 9 1/4 by 5 1/4 by 2 3/4 inch greased and floured loaf pan. Drop in twice, from height of about 6 inches to counter, to remove air bubbles. Bake in preheated, 350 oven for 1 hour, or until wooden toothpick inserted in center of crack comes out clean. Cool in pan on wire rack 10 minutes. Remove bread to wire rack to complete cooling. Makes 1 loaf.
*Note: The riper the bananas, the more flavorful the bread.