In the bowl of an electric mixer, combine the sugar and butter beating at medium speed until fluffy. On low-speed, add the banana, milk, cream cheese and eggs mixing until combined.
In a small bowl, whisk together the flour, baking soda and salt. Keeping the mixer on low-speed and slowly add the dry ingredients to the wet ingredients. Beat just until blended.
Add the nuts and chocolate chips and stir briefly.
Pour the batter into a 95 inch metal loaf pan coated with cooking spray and bake at 350 degrees for 1 hour or until a toothpick inserted into the center comes out clean. Cool in pan for 10 minutes on a wire rack.