Police have arrested a 47-year-old man accused of robbing a Christchurch bank and fleeing on a mountain bike.

The man has been charged with two counts of aggravated robbery following the robberies yesterday afternoon at Kiwibank Riccarton Rd and last week at Kiwibank Bush Inn.

At the Riccarton Rd branch staff were threatened with a firearm by a man wearing a white mask with a dark balaclava on top, police said.

Police said after receiving a sum of cash the accused left on a red mountain bike.

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"The arrest today has come on the back of good investigative work from all staff," Detective Senior Sergeant Leairne Dow said.

"Police are committed to keeping our communities safe for those who live and work within them so they can be safe and feel safe. I hope this arrest will help reassure the community."

The man will appear in Christchurch District Court tomorrow on both charges.

Another image released by police after the Kiwibank Bush Inn robbery. Photo / NZ Police
Another image released by police after the Kiwibank Bush Inn robbery. Photo / NZ Police
The exterior of the KiwiBank on Riccarton Rd. Photo / Google
The exterior of the KiwiBank on Riccarton Rd. Photo / Google