If a 32 bit module has 16 '4x4' DRAM chips, the sum of the data path's from the chips is 64. Divide 64 by 32 to arrive at 2. This would be a 2 bank module. So an 8MX32 using 4x4 chips is a 2 bank module, each bank is 4mx32.
Another example is a 36 bit module that has 8 '4x4' chips and 4 '4x1' chips. The sum of the data path's (4+4+4+4 + 4+4+4+4 + 1+1+1+1) is 36. Divide that total by the module data path, 36 / 36, and you get 1. This makes a single bank 4mx36.
Note that SDRAM chips themselves have their own internal bank arrangements.