Preheat your oven to 350°F (175°C). Grease a small loaf pan or line it with parchment paper.
In a large bowl, whisk together the flour, baking powder, and salt.
In another bowl, stir together the sweetened condensed milk and warm water until well combined.
Pour the wet mixture into the dry ingredients and mix until just combined. Don’t overwork it—rustic is charming.
Spoon the batter into the prepared loaf pan and smooth the top a little.
Brush the top with melted butter, because bread deserves to be pampered too.
Bake for about 30 minutes, or until the top is golden and a toothpick poked in the middle comes out clean.
Let it cool slightly before slicing. Serve warm with a little butter or jam—or both, if you’re like me and can’t choose.