In a medium bowl, combine warm milk and instant yeast. Allow to sit for 5-10 minutes until frothy.

In a large mixing bowl, whisk together all-purpose flour, sugar, and salt. Create a well in the center.

Pour the yeast mixture, sweetened condensed milk, beaten egg, and melted butter into the well. Stir until a sticky dough forms.

Transfer the dough onto a floured surface and knead for about 5-7 minutes until smooth and elastic.

Place the kneaded dough into a greased bowl, cover, and let it rise in a warm spot for 30-45 minutes.

Punch down the dough gently, shape it into a loaf, and place it in a greased loaf pan.

Cover the loaf pan and let it rest for another 30 minutes.

Preheat your oven to 350°F (175°C).

Bake the loaf for 25-30 minutes until golden brown and sounds hollow when tapped.

Allow the bread to cool in the pan for about 10 minutes before transferring to a wire rack.