Police say a man left a bank in the Brimley Road and Eglinton Avenue East area shortly after 12 p.m. when he was confronted by an armed suspect.
A struggle ensued after the armed suspect demanded cash from the victim. Police say the victim was assaulted with a machete, sustaining non-life threatening injuries.
The suspect fled after passersby confronted him.
Police describe the suspect as having a dark-brown complexion, between 25 and 30 years old, approximately five feet five inches tall and 130 pounds. He was unshaven and wearing a black jacket with a fur trim and red lining, a red toque, black jeans with a black belt with silver studs and a black backpack.
Police consider the suspect "violent, armed and dangerous" and have released a security image.