A masked and armed man is on the run after robbing a bank on the southern Gold Coast.

Police say the man stormed the Griffith Street bank in Coolangatta wielding a weapon around 12pm on Tuesday.

Once inside, the man, who had his face covered, allegedly demanded money from staff before fleeing the scene with a small amount of cash.

He was last seen walking along Chalk Street with a major manhunt now underway in the area.

Thankfully no one was injured in the armed hold-up.

Investigations are ongoing.

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