KARACHI, Jan 9: A gang of seven robbers looted on Wednesday over Rs4 million from a bank branch situated on Rashid Minhas Road, police and witnesses said.

Sharea Faisal police said the dacoits decamped with Rs4,233,427 and $424.

They also took away the repeater guns of the two bank guards from the National Police Foundation.

Guard Mohammed Azam told Dawn that he was standing at the main gate of the UBL branch when at around 9:30am the bandits entered the bank. “One of the dacoits went straight to the chamber of the bank manager and two others held me hostage at gunpoint and snatched my gun,” he said.

The guard said two other dacoits overpowered the other guard, Tauqeer Ahmed, and asked the staff and customers to lie down. “Then they scooped up cash from the counter, vault and the ATM and fled the scene,” he added.

He said the dacoits also wounded guard Tauqeer with the pistol butt before they snatched his gun.

The guard said the dacoits, who had overpowered him, also slapped him. “They told me that they would kill me if I tried to play smart,” he added. He said the dacoits remained in the bank for 10 to 15 minutes. “I couldn’t see the other dacoits as I was ordered to keep my head down.”