Vaghul was addressing the extraordinary general meeting of ICICI shareholders on Friday for approving the institution's proposed merger with Anagram Finance. The proposal was put to vote at the EGM and the results are expected on Monday.

A resolution for the merger requires the consent of 51 per cent of the members in terms of numbers and 75 per cent in terms of share value.

The results would then be placed before the Mumbai high court and the most likely effective date of the merger would be September 30, ICICI sources said. ICICI is moving towards universal banking where diversification and retail network for resources will be thekey areas of focus.

The institution is gearing up to provide multiple products. ``We do not want to put all the eggs in one basket,'' he said. Almost 70 per cent of the institution's term-lending exposure every year is towards new companies.

ICICI chief executive officer and managing director KV Kamath, speaking on the occasion, said the company aims to maintain the dividend at 25 per cent and hike it on the basis of higher profit.

On the non-performing assets, Kamath said, ``We are increasingly recovering more and more money within a short span of time.'' Justifying the company's takeover of Anagram Finance and its foray into retail businesses, Kamath said that it was essential for survival and to maintain ICICI's earnings per share at 20 per cent.