MADRID - Several people have been taken hostage by a man described as "armed" at a bank in the district of Usera in the south of the Spanish capital Madrid, the Spanish media reported on Thursday.

Reports indicated that the man, who is armed and acting alone, entered a branch of Bankia in Dolores Barranco street at around 9:50 am local time.

"Several" people are reported to have been at the bank at the moment of the attempted robbery and have been taken hostage, although the exact number has still to be confirmed and the demands of the assailant are not yet known.

A special police unit has been directed to the scene and the area around the bank has been cordoned off.