Preheat oven to 350 degrees. Spray or lightly grease a 9x5 inch loaf pan.

In a large bowl mix together mashed bananas, oil, applesauce, sugar, eggs, milk, and vanilla.

In a separate bowl combine flour, baking soda, baking powder, and salt. Add flour mixture to the banana mixture. Mix until just combined.

Pour batter into prepared pan.

Bake for 60 to 75 minutes or until a tester comes out clean. Remove from oven, and let set for 10 minutes before removing bread from the pan. Cool completely on a wire rack.