The population in this research is banking company at Persero Commercial Banks listed on Indonesia Stock Exchange, totaling 4 (four) banks. While the sample in this research used purposive sampling technique. The data used in this research is financial reports of Persero Commercial Banks obtained through each bank's website. The data analysis technique in this study was using the Altman Z-Score Modified method with the formulation Z=6,56 (X_1)+3,26 (X_2)+6,72(X_3)+1,05(X_4).
The results of the analysis and discussion show that in 2018 and 2019, all Persero Commercial Banks have the Gray Zone predicate. Meanwhile, in 2020 and 2021, there are 3 (three) Persero Commercial Banks (PT Bank Negara Indonesia, Tbk, PT Bank Mandiri, Tbk, and PT Bank Tabungan Negara) which have the title of Distress Zone (Bankruptcy Zone) or are in an unhealthy condition. Furthermore, the bank with the highest Z-Score was owned by PT Bank Rakyat Indonesia, Tbk, with a Z-Score of 2.25 in 2019. Meanwhile, the bank with the lowest Z-Score score throughout the research period was owned PT Bank Tabungan Negara, Tbk, with a value of Z-Score 0.20 in 2020, so it has the highest level of bankruptcy risk among others.