Line a 9x5 inch loaf pan with non-stick baking paper, leaving a little overhang for easy removal. Preheat the oven to 175 C.
In a large mixing bowl, mash the bananas well. Add the sugar and oil and whisk well to combine. Add the milk and vanilla and whisk again till smooth.
Sift in the flour, baking powder, baking soda, salt and spices. Fold in the flour mixture until just combined, do not over-mix. Fold in the chocolate chips. The batter will be thick but spreadable.
Transfer the batter to the loaf tin and smoothen the top, adding more chocolate chips on top if you like (who doesn't?!)
Bake for 45 to 50 minutes or until a toothpick inserted in the center comes out clean or with a few moist crumbs, but no wet batter. Cover the top loosely with foil in the last 10 minutes of baking if the top is browning too quickly.
Allow the cake to cool in the tin for 20 minutes, then lift it out using the paper overhang and place on a wire rack to cool completely before slicing. The banana flavour intensifies and the bread becomes sweeter and more moist on day two, so I recommend waiting after the first slice!
Store in an airtight tin at room temperature for 2 to 3 days, but in warm weather, I prefer to store it in the fridge on day one itself where it will keep for a week. You can also freeze this for longer. Happy baking!