A group of robbers attacked the Jinjira branch of Rupali Bank in Keraniganj, near the capital, taking bank officials hostage and demanding ransom.
Dhaka district Police Superintendent Ahmad Muyeed confirmed the incident on Thursday.
Members of various law enforcement agencies, including the police, have cordoned off the building.
According to officials, the robbers entered the bank around 2pm.
Upon receiving reports of the situation, local residents gathered outside the building.
Police and other law enforcement units arrived shortly afterward, surrounding the bank and calling for the robbers to surrender.
Efforts to safely resolve the situation are ongoing.