ER24 spokesman Derrick Banks said the 28-year-old guard was about to enter the bank with an undisclosed amount of money at 10.30am when a robber shot him in the head, took the money and ran away.
Paramedics arrived to find him lying in a pool of blood and in a "very critical condition", said Banks.
After being stabilised on the scene with advanced life support equipment, the guard was flown to the Pietermaritzburg Medi-Clinic where he was in a critical, but stable condition.
Trauma staff were attending to him, he said.
KwaZulu-Natal police could not immediately confirm the incident.
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