Balanced steady-state free precession (bSSFP) imaging suffers from banding artifacts in the presence of magnetic field inhomogeneity. The purpose of this study is to identify an efficient strategy to reconstruct banding-free bSSFP images from multi-coil multi-acquisition datasets.Previous techniques either assume that a naïve coil-combination is performed a priori resulting in suboptimal artifact suppression, or that artifact suppression is performed for each coil separately at the expense of significant computational burden. Here we propose a tailored method that factorizes the estimation of coil and bSSFP sensitivity profiles for improved accuracy and/or speed.In vivo experiments show that the proposed method outperforms naïve coil-combination and coil-by-coil processing in terms of both reconstruction quality and time.The proposed method enables computationally efficient artifact suppression for phase-cycled bSSFP imaging with modern coil arrays. Rapid imaging applications can efficiently benefit from the improved robustness of bSSFP imaging against field inhomogeneity.