In this paper, we shed light on a specific business model of Conventional Banks adopted by Ethical Banks (also called social, sustainable, alternative banks). We believe that this model shares many similarities with the substance of Islamic Finance when it comes to financing the economy. In our study, we used univariate comparisons between Islamic and Ethical Banks to compare efficiency, profitability, capitalization, volatility and stability from 1992 to 2014. Our results show that Islamic Banks were more efficient, more profitable, and better capitalized than Ethical Banks for most of the period .