.An enroll the exterior of a BNP Paribas SA banking company branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday said there are actually merely too many European lending institutions for the region to be able to compete with opponents from the U.S. and Asia, requiring the production of additional domestic heavyweight banking champions.Speaking to CNBC's Charlotte nc Reed at the Bank of The United States Financials CEO Conference, BNP Paribas Chief Financial Police officer Lars Machenil articulated his support for better integration in Europe's financial sector.His remarks happen as Italy's UniCredit ups the stake on its own noticeable requisition attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to definitely seek its domestic rival, u00c2 Banco Sabadell." If I will ask you, the number of banks are there in Europe, your right solution would certainly be a lot of," Machenil claimed." If we are actually really broken in activity, therefore the competition is actually not the exact same point as what you might see in other locations. Thus ... you essentially need to get that debt consolidation and also acquire that going," he added.Milan-based UniCredit has actually ratcheted up the tension on Frankfurt-based Commerzbank in recent full weeks as it seeks to become the greatest financier in Germany's second-largest loan provider along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, seems to have captured German authorities unsuspecting along with the prospective multibillion-euro merger.German Chancellor Olaf Scholz, who has actually earlier asked for better combination in Europe's financial field, is actually firmly opposed to the obvious requisition effort. Scholz has apparently explained UniCredit's step as an "unfriendly" and also "aggressive" attack.Germany's posture on UniCredit's swoop has actually urged some to indict Berlin of favoring European financial combination only on its own terms.Domestic consolidationBNP Paribas's Machenil stated that while residential combination will aid to support anxiety in Europe's financial atmosphere, cross-border assimilation was "still a little further away," presenting varying devices and products.Asked whether this implied he strongly believed cross-border financial mergers in Europe showed up to one thing of a dubious reality, Machenil answered: "It is actually 2 different things."" I assume the ones which are in a country, financially, they make good sense, as well as they should, financially, occur," he proceeded. "When you examine really cross boundary. Thus, a bank that is actually located in one nation merely and located in one more nation only, that financially doesn't make good sense because there are no unities." Earlier in the year, Spanish bank BBVA stunned marketsu00c2 when it launched an all-share takeover provide for domestic rival Banco Sabadell.The scalp of Banco Sabadell mentioned earlier this month that it is very extremely unlikely BBVA will do well along with its own multi-billion-euro aggressive quote, Wire service reported.u00c2 And yet, BBVA chief executive officer Onur Genu00c3 u00a7 said to CNBC on Wednesday that the requisition was "moving depending on to plan." Spanish authorizations, which have the power to obstruct any type of merging or acquisition of a financial institution, have voiced their opposition to BBVA's unfavorable requisition proposal, mentioning possibly unsafe impacts on the region's financial device.