A manhunt is continuing after an armed man robbed a bank near Dunedin yesterday.

In a statement this morning police said inquiries were continuing after the frightening incident at a BNZ branch in Gordon Rd, Mosgiel.

"Enquiries have established that a man entered the bank, presented what is believed to be a firearm at a teller and demanded money.

"He has left the scene in a dark coloured, two door vehicle with a quantity of cash."

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The aggravated robbery in the town just south of Dunedin occurred at 11.30am. Support was being provided to the people who were in the bank at the time.

A scene examination had been completed and police were continuing to speak with a number of witnesses. CCTV footage has also been reviewed.

Anyone who may have seen a vehicle fitting the description and in the Mosgiel area around the time of the robbery, or who might have other information which could help the investigation, should call Dunedin police on (03) 471 4800.

Information can also be shared anonymously on Crimestoppers on 0800 555 111.