Preheat the oven to 350°F.
In a large mixing bowl or the bowl of a stand mixer fitted with a paddle attachment, cream together the sugar and shortening. Add the eggs, mashed bananas and vanilla and blend on low until incorporated.
In a separate bowl, sift or whisk together the flour, baking powder, salt, baking soda, cinnamon and nutmeg. Gradually add to the wet mixture until combined.
By hand, fold in the walnuts with a spatula. Lightly coat a 9-inch bread pan with cooking spray and line bottom with parchment paper for easy removal. Transfer the batter into the bread pan.
Bake for 45-50 minutes or until top is lightly brown and it passes the toothpick test. If the top starts to brown too fast loosely cover with a leaf of aluminum foil. Allow to cool slightly before eating.
If you've tried this recipe, come back and let us know how it was in the comments or star ratings!