<![CDATA[This study aims to compare the performance of Islamic commercial banks in Indonesia using conventional indicators and the Islamicity Performance Index (IPI), while also assessing the comprehensiveness of the IPI in representing financial, social, and Sharia compliance dimensions. A descriptive quantitative approach was employed using secondary data from the annual reports of six Islamic commercial banks for the 2019–2023 period. Conventional performance was measured through Return on Assets (ROA) and Return on Equity (ROE), while Sharia performance was evaluated using the Profit Sharing Ratio, Zakat Performance Ratio, Equitable Distribution Ratio, Directors–Employees Welfare Ratio, Islamic Investment versus Non-Islamic Investment, and Islamic Income versus Non-Islamic Income. The findings show that Bank BTPN Syariah recorded the highest profitability based on ROA and ROE, whereas Bank Syariah Indonesia achieved the highest IPI score of 59 in 2023. Most banks were classified as fairly good, while Bank KB Bukopin Syariah declined to the poor category in 2023. Halal investment and income indicators showed very strong results, but zakat distribution, qard, dividends, and profit distribution remained suboptimal. The study concludes that high profitability does not necessarily reflect stronger Sharia performance; therefore, conventional indicators and the IPI should be used jointly to obtain a more comprehensive assessment of Islamic bank performance.]]>
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