UPDATE: Armed man arrested after taking hostages in Madrid bank

AN armed man has been arrested after taking several hostages at a bank in Madrid this morning (Thursday).

Police cordoned off the area around the Bankia bank branch in Calle de Dolores Barranco after the man entered the premises at around 9.50am.

Witnesses described the armed man as about 60-years-old who has threatened the director of the branch.

The hostages were held for around an hour before the man surrendered to the police.

No-one was injured.

Roads in the area have now re-opened.

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