.A register the outdoor of a BNP Paribas SA financial institution division in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday said there are merely way too many European loan providers for the region to become capable to compete with rivals coming from the united state and also Asia, asking for the creation of additional domestic big-time financial champions.Speaking to CNBC's Charlotte nc Reed at the Bank of The United States Financials Chief Executive Officer Association, BNP Paribas Chief Financial Officer Lars Machenil articulated his assistance for greater integration in Europe's financial sector.His opinions happen as Italy's UniCredit ups the stake on its own apparent takeover effort of Germany's Commerzbank, while Spain's BBVAu00c2 remains to actively pursue its domestic rival, u00c2 Banco Sabadell." If I would certainly inquire you, the number of banks are there in Europe, your right answer will be actually way too many," Machenil mentioned." If we are really broken in activity, as a result the competitors is certainly not the very same thing as what you may find in various other locations. Therefore ... you primarily should obtain that debt consolidation and also obtain that going," he added.Milan-based UniCredit has actually ratcheted up the stress on Frankfurt-based Commerzbank in latest weeks as it looks for to end up being the largest client in Germany's second-largest lender along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, seems to have captured German authorities off-guard with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has actually formerly called for more significant combination in Europe's banking industry, is actually securely resisted to the apparent requisition try. Scholz has actually apparently described UniCredit's technique as an "hostile" as well as "unfavorable" attack.Germany's position on UniCredit's swoop has caused some to charge Berlin of favoring International financial integration only by itself terms.Domestic consolidationBNP Paribas's Machenil stated that while residential consolidation would aid to maintain unpredictability in Europe's banking setting, cross-border assimilation was "still a bit further away," pointing out varying units as well as products.Asked whether this suggested he felt cross-border banking mergers in Europe showed up to something of a farfetched fact, Machenil responded: "It's two different points."" I think the ones which are in a nation, financially, they make sense, and they should, financially, take place," he proceeded. "When you look at really cross border. Therefore, a financial institution that is actually located in one country simply and based in yet another nation merely, that financially doesn't make sense considering that there are actually no synergies." Previously in the year, Spanish bank BBVA surprised marketsu00c2 when it introduced an all-share takeover promotion for residential rival Banco Sabadell.The scalp of Banco Sabadell said previously this month that it is highly not likely BBVA will definitely do well with its own multi-billion-euro aggressive offer, Reuters reported.u00c2 And also yet, BBVA chief executive officer Onur Genu00c3 u00a7 said to CNBC on Wednesday that the takeover was actually "moving depending on to planning." Spanish authorizations, which have the energy to block any type of merging or accomplishment of a banking company, have articulated their opposition to BBVA's dangerous takeover bid, pointing out possibly hazardous results on the county's economic system.