ANZ net profit slips on slowing housing market and Royal Commission fallout

ANZ Bank has reported a five percent dip in its first half net profit to $3.2 billion, weighed down by a rapidly cooling housing market. 

However, the bank's preferred measure of cash profit is two percent higher and ANZ shares rose as a result. 

ANZ chief executive Shayne Elliott  says the banks decision to take a more prudent approach to lending as a result of Royal Commission revelations contributed to the softer result.

Here's my report from The World Today