Bicycle Bandit suspect in new bank robbery (AAP)

It looks like Adelaide's Bicycle Bandit has struck again.

He doesn't wear lycra but he does have an unusual modus operandi and detectives say there are striking similarities between Thursday's armed robbery of the Mount Pleasant branch of Bank SA and previous heists by the Bicycle Bandit.

The robber has been dubbed "The Bicycle Bandit" because of his unusual getaway vehicle - a humble bicycle.

Police believe the Bicycle Bandit has carried out 10 bank robberies from May 2004 to June 2009, including two at the Mount Pleasant branch of Bank SA.

In some of the raids, he used a bicycle to flee the bank, riding it to a nearby getaway car.

In Thursday's robbery, a man walked into the bank armed with a rifle and demanded money.

He fired several shots, but no-one was injured.

He fled with an undisclosed amount of cash but this time there was no getaway bike.

He is believed to have left in a silver four-wheel-drive.

Detectives on Friday acknowledged clear similarities between the latest heist and previous robberies carried out by the Bicycle Bandit.

But Detective Superintendent Peter Harvey said police remained open-minded about who may have carried out the crime.

"While we understand the community will speculate on whether the Bicycle Bandit was responsible, we'll be following up every line of inquiry and every piece of evidence, no matter where it takes us," he aid.

"Someone is bound to have seen something that can assist the investigation.

"This was a brazen robbery were shots were fired. It is extremely lucky no one was injured."

The man is described as being about 188cm tall, tanned complexion, solid build, and was wearing a black jacket and pants.

http://au.news.yahoo.com/a/-/latest/24904380/bicycle-bandit-suspect-in-new-bank-robbery/