Union Bank drops 4.5% after weak Q1 update, showing slower credit growth and modest deposit and loan increases.

• Domestic deposits rose 3.6% and advances 6.8% YoY, signaling slower momentum compared to earlier performance.
• SBICAPS flags weak business update, mirroring broader slowdown in credit growth across PSU banking peers.
• Despite a recent dip, Union Bank shares are up 19% YTD, outperforming the Nifty PSU Bank index's 8.6% gain.