The purpose of this study is to determine the position of financial performance, the position of bankruptcy rates of Islamic banks, as well as compare it with conventional banks. This study also compares the accuracy of the bankruptcy predictions of the Islamic banks versus conventional banks using the Altman Z-Score method with the calculation of the financial services authority (OJK). This research compares two methods. First, the Financial Services Authority Regulation Approach (OJK Regulation No. 8/POJK.03/2014 which refers to Bank Indonesia Regulation No. 9/1/PBI/2007) aims to determine the position of financial performance. Second, the Altman Z-Score model which aims to find out the position of bankruptcy in Islamic and conventional banks. This study provides the finding of the position of the financial performance level and bankruptcy level of sharia and conventional banks. Based on the Financial Services Authority Regulation Approach, the position of Islamic banks performance level is ranked 3, and the position of conventional banks is ranked 1. While based on Altman Z-Score method, the risk of bankruptcy of sharia banks CBGB 2 is in the position of the gray zone, and conventional banks CBGB 2 is in the safe zone. These results prove that both Altman Z-Score method and the Financial Services Authority Regulation Approach can provide the same prediction result.