The aim of the current research was to investigate potential connections between vocabulary, reading comprehension, verbal working memory (VWM) and contextual factors (specifically, input, and emergent literacy) among Greek monolingual and Greek-Turkish bilingual children. Previous studies have indicated a correlation between vocabulary and reading comprehension in both monolingual and bilingual children. While most studies agree that VWM and reading comprehension are interrelated in monolinguals, there is no consensus on this relationship within bilingual populations. Contextual factors also play a role in vocabulary development and reading comprehension, but our understanding is more limited when it comes to bilingual individuals. To address these matters, the study involved thirty-five participants, aged 9 to 12, including 20 Turkish-Greek bilinguals and 15 monolinguals. All participants underwent testing involving a VWM task, an expressive vocabulary task and a reading comprehension task. The reading comprehension task encompassed two texts, each followed by comprehension questions. The first text was read aloud by the participant, while the second text was read aloud by the researcher. Bilingual participants also answered a background questionnaire about their input and literacy practices. The findings revealed that monolinguals had larger vocabularies and better reading comprehension abilities in both texts compared to bilinguals, though no differences were observed in VWM performance. Correlation analyses conducted for each group separately demonstrated that vocabulary was correlated with overall reading comprehension in both groups. VWM showed a correlation with the second text (read by the researcher) only among monolingual participants. Additionally, emergent literacy was linked to reading comprehension of the first text specifically within the bilingual group.