It happened at a Bank of Montreal branch on Spadina Avenue north of Dundas Street on June 27.
It is alleged the suspect entered the bank holding a knife and then jumped over a counter, approached an employee and demanded cash.
That employee took cash out of their wallet and offered it to the suspect. Police say the suspect grabbed the cash before stabbing the employee multiple times. He then fled the bank through an emergency exit at the rear of the premises.
On July 5, police issued an arrest warrant for 43-year-old Mark Webster in connection with the incident, noting in a press release that he should be considered “violent and dangerous.”
Webster was then arrested on Tuesday by members of the Ontario Provincial Police.
Toronto police say Webster faces 13 charges, including assault causing bodily harm.
Police previously said the stabbing victim suffered serious but non-life-threatening injuries.