The Islamic State (IS) group released a video on Monday purporting to show the destruction an airstrike wreaked on a bank in the group's northern Iraqi stronghold of Mosul.

The authenticity of the footage - which was posted by a news agency that supports the militant group - has yet to be verified, but two Mosul residents confirmed the location of al-Zuhour bank in an eastern district of the city on Tuesday.

The coalition said the airstrike targeting the bank had aimed to disrupt IS' financial activities.

Targeting IS' finances is a key part of the coalition's strategy to defeat the group. Iraq's finance minister last year said militants had looted nearly half a billion dollars from banks in Mosul and the northern cities of Tikrit and Baiji after IS' lightning dash across the Syrian border in 2014.

The video showed papers and burnt furniture littering the rubble of several buildings that appeared to have been destroyed by the bombing.

Debris hung from dust-covered tree limbs, and rescuers pulled an old man's bloodied body from the remains. Footage from inside a damaged apartment building suggested civilian areas had also been hit.

A US military spokesperson said earlier on Monday that a US aircraft had bombed an IS cash distribution site that was distributing money to fund "terrorist" activities.

Citing unnamed US defense officials, CNN reported that the building was destroyed by two 2,000 pound bombs. The officials could not say exactly how much money was held at the bank or in what currency the funds were denominated, but one described it as "millions," CNN said.