Ontario’s police watchdog is investigating after a man was shot during an alleged bank robbery in Etobicoke.

The Ontario Special Investigations Unit says Toronto police were called to a TD Bank in the area of Kipling Avenue and The Queensway about a robbery in progress at approximately 7:45 a.m. on Saturday.

Officers arrived and encountered “at least” one man in the parking lot, the SIU said. Shots were fired and a 30-year-old man was struck in the torso.

The man was taken to hospital with life-threatening injuries, paramedics say. The SIU said the man has since undergone surgery and is expected to survive.

Toronto Police Service Staff Insp. Mike Earl called the incident a bank robbery “gone bad.”

“Witnesses saw what was happening, the police were alerted and got here before the bank robbers could get their escape which resulted in an interaction between the police and the suspects,” Earl told reporters at the scene Saturday afternoon.

Toronto police officers remained at the scene for several hours with their weapons drawn. Investigators say one suspect is still outstanding.

“One of the suspects is on the run right now so we need to get this information out to witnesses who may have seen something whether it was a vehicle leaving at a high rate of speed or a vehicle that was parked in a peculiar position,” Early said. “Somebody may have seen something and we need them to contact us.”

The suspect is described as a white man between 40 and 50 years hold. He fled the scene in a silver car.

Police also asked other businesses in the bank’s vicinity to secure their premises until the area was deemed safe. A nearby Ikea store was placed under hold and secure status.

The situation appeared to have been resolved at approximately 11:45 a.m. and roads in the area have since reopened.

Investigators are now reviewing footage from surveillance cameras in the area and asking any witnesses to come forward.

Anyone with information can contact investigators at 416-808-2200 or Crime Stoppers anonymously at 1-800-222-8477.