Preheat oven to 350 F. Grease a 12-inch Bundt pan (or similar deep 10-inch fluted tube pan or angel-food tube pan); be sure to reach all the crevices. Dust the pan with flour, tapping out excess.
Sift together flour, baking powder and salt onto a sheet of wax paper. In a large bowl with mixer on low, then medium speed, beat butter, oil, and sugar until very light and fluffy, about 1 1/2 minutes. Scrape down bowl as needed. Add banana and beat until very smooth. With mixer on low speed, beat in half of dry ingredients. Beat in milk, eggs, vanilla, and almond extract until evenly incorporated; scrape down the bowl sides. Stir in remaining half of dry ingredients (and chocolate morsels, if using) just until evenly incorporated and smooth.
Turn out batter into pan, spreading to edges until evenly distributed. Bake on middle oven rack for 50 to 65 minutes or until a toothpick inserted in the thickest part comes out clean. Transfer pan to wire rack and let stand until cake is completely cooled. Very carefully run a knife around pan edges and center tube to loosen cake. Tap the pan against counter several times to loosen completely. Invert pan and slide out the cake, or, if a two-part tube pan is used, run a knife under cake bottom and then invert. If adding glaze, brush away any loose crumbs from cake surface. If desired, slide wax paper strips under cake edges to catch glaze drips.
For glaze: In a microwave-safe medium bowl, stir together the chocolate morsels and butter. Microwave on 50 percent power for 1 minute. Stir and, if necessary, microwave 30 seconds longer until mostly melted. Stir in corn syrup, vanilla, and 3 tbsp hot water until mixture is completely smooth and well blended. Let glaze cool for 5 minutes. If it is too thick to flow readily, stir in a little more water until it is fluid enough to flow when spooned over the cake top. Spoon it over the cake, allowing the glaze to flow partially down the sides. Cake keeps, covered, 3 to 4 days.