Preheat your oven to 350°F (175°C). Grease a 9×5-inch loaf pan and line the bottom with parchment paper. Grease the parchment as well.
In a medium-sized bowl, sift together the flour, baking powder, and salt. Set aside.
In a small bowl, whisk the vanilla extract into the milk and set aside.
In a large mixing bowl, cream the softened butter and sugar until the mixture is pale and fluffy.
Add the eggs one at a time, beating each one into the mixture until fully incorporated.
Gently stir in half of the flour mixture. Then, add all the milk and mix in the remaining flour until fully combined.
Stir in the chocolate chips until evenly distributed throughout the batter.
Pour the batter into the prepared loaf pan and smooth the top.
Bake for 45-55 minutes, or until a toothpick inserted into the center comes out with just a few crumbs.
Once baked, remove the loaf pan from the oven and allow it to cool on a wire rack for 5 minutes. Remove the cake from the pan and let it cool further before serving.