Preheat your oven to 165°C degrees.
Grease an 8½ x 4½ inch loaf pan with margarine or cooking oil and set aside.

In a bowl, sift together the flour, baking powder and salt and set aside.

In the bowl of a stand mixer fitted with a paddle attachment, cream the butter and sugar on high speed until light and fluffy – about 2 minutes.

Add the eggs one at a time, mixing after each egg until well blended. Add sweetened condensed milk and vanilla to the butter mixture and mix until combined.

With the mixer on low, slowly add the dry mixture to the wet mixture (increasing the speed of the mixer as needed and scraping down the sides of the bowl as needed) until well combined.

Pour the batter into the prepared loaf pan. Bake for 60-65 minutes or until the top is golden brown and a toothpick inserted into the center of the cake comes out clean.
Cool for 10 minutes, then turn the pound cake out onto a wire rack to cool completely.