A pistol was presented at bank staff at Kiwibank, Bush Inn, Waimairi Rd, Upper Riccarton, at lunchtime Thursday.
No-one was injured, says police.
Police have been conducting a scene examination, reviewing CCTV footage, taking witness statements, and supporting the bank staff.
Cash was taken but it is unknown how much.
Investigators want to urgently find and speak to the man in cycling gear and on the bicycle shown in the photographs on teh police website.
The cyclist was last seen travelling along Totara Street, says Dtective segeant Wayne Boyd.
Anyone with information is asked to contact Christchurch Police on 03 363 7400.
Information can also be passed to Crimestoppers on 0800 555 111.
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