Police have released footage of that may assist investigations into a fire at a Launceston bank.

Between $250,000 and $300,000 damage was caused to the Commonwealth Bank Newstead branch from a fire that broke out just before midnight on Tuesday.

Police today released video footage of a man who was seen in the Zap Fitness car park near the bank, captured about 11.30pm on Tuesday.

Police ask anyone who is able to identify the man or has any information about the fire to contact Tasmania Fire Service, Tasmania Police or Crime Stoppers on 1800 333 000.