Toronto police said on June 27, just before 1 p.m., officer received a report of a hold-up in the Dundas Street West and Spadina Avenue area.
Police said a man entered the bank wearing a mask and a hoodie.
Officers allege he pulled out a large knife, demanded cash and jumped over the counter.
“He approached a bank employee making a demand for cash,” police said in a news release. “The employee took cash out of their wallet and offered it to him.”
Officers said the suspect then allegedly “stabbed the employee multiple times” before jumping back over the counter and fleeing through the emergency exit at the back of the bank.
According to police, on Tuesday, 43-year-old Mark Webster from Toronto was arrested.
He has been charged with several offences including two counts of robbery with an offensive weapon, two counts of assault with a weapon, assault causing bodily harm, weapons dangerous and disguise with intent.
Officers said he was scheduled to appear in court on Wednesday.