The armed robbers who struck a branch of HSBC-Egypt in Cairo made away with between LE800,000 and LE900,000 ($132,700 - $149,300), says the bank's Egyptian chairman.
On Monday morning, seven men armed with automatic weapons entered the bank in the New Cairo district of the capital and threatened customers and staff before seizing cash.
"The money was stolen from the bank tellers' windows and not from clients," Abdel-Salam Anwar, chairman of HSBC-Egypt told the state-run newspaper Al-Ahram, adding that the amount stolen will be easily covered by the bank's insurance policy.
No one was injured during the incident, although shots were fired by the assailants who fled the crime scene in a black SUV.
Police are continuing their search for the perpetrators.