NORDEA BANK AUTOMATES AND REAPS REWARDS – Nordea Bank AB, in an effort to remain competitive in the years to come, have set bold plans to replace humans with automation. Nordea Bank Chief Executive Officer, Casper von Koskull, went on to explain that the banking industry may only have half of its current workforce a decade from now, while Nordea themselves are cutting 6,000 of those jobs from their 29,300 employees. SEB Chief Executive Officer, Johan Torgeby, said that, “whatever can be automated will be automated.” Nordea was the only Swedish bank to report a drop in second-quarter costs; Nordea saw total costs drop 11% in the second quarter from a year earlier as total staff fell by 8%. In addition Nordea also had the biggest profit growth among Swedish banks in the second-quarter, Nordea delivered a 31% annual increase in operating profit last quarter. #SpartanInternational