A bank manager and his family have been freed after they were taken hostage in the northern French town of Roubaix.

Local newspaper La Voix Du Nord reports heavily armed men were holed up inside a petrol station after being stopped at a security checkpoint today.

The attackers exchanged gunfire with police and barricaded themselves inside.

The hostages have been since released and several suspects have been arrested.

There are also reports at least one of the attackers has been killed.

The incident is believed to have stemmed from an attempted robbery and is not linked to terrorism.

"This is apparently not a terrorist attack, it's apparently a robbery," a police source told Reuters.