Large amount of cash taken in aggravated bank robbery

Palmerston North police are hunting a man who made off with a significant amount of cash after he robbed a bank with a weapon yesterday afternoon. File photo / NZ Herald

A man with a significant amount of cash remains on the run after he robbed a Palmerston North bank with a weapon yesterday afternoon, police say.

The man entered the Terrace End Westpac branch about 4pm yesterday where he confronted a staff member and demanded money.

An object was concealed within his clothing, which police believe to be a weapon. Police had not been able to identify the object, Detective Senior Sergeant Craig Sheridan said.

Police were today reviewing the bank's CCTV footage.

A large amount of cash was stolen in the robbery but a full audit had not been completed to establish exactly how much, Mr Sheridan said.

"It is possible that the offender is spending large amounts of cash or paying outstanding debts."

Police would like to hear from anyone who had information on the robbery.

- NZPA