Systems, apparatuses, and methods for dynamically coalescing multi-bank memory commands to improve command throughput are disclosed. A system includes a processor coupled to a memory via a memory controller. The memory also includes processing-in-memory (PIM) elements which are able to perform computations within the memory. The processor generates memory requests targeting the memory which are sent to the memory controller. The memory controller stores commands received from the processor in a queue, and the memory controller determines whether opportunities exist for coalescing multiple commands together into a single multi-bank command. After coalescing multiple commands into a single combined multi-bank command, the memory controller conveys, across the memory bus to multiple separate banks, the single multi-bank command and a multi-bank code specifying which banks are targeted. The memory banks process the command in parallel, and the PIM elements process the data next to each respective bank.