.A sign on 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 actually just a lot of International loan providers for the region to become able to take on opponents from the U.S. as well as Asia, requiring the development of additional domestic heavyweight banking champions.Speaking to CNBC's Charlotte nc Reed at the Financial Institution of America Financials Chief Executive Officer Event, BNP Paribas Main Financial Police officer Lars Machenil voiced his support for more significant integration in Europe's banking sector.His remarks come as Italy's UniCredit ups the ante on its noticeable takeover effort of Germany's Commerzbank, while Spain's BBVAu00c2 continues to proactively seek its own residential opponent, u00c2 Banco Sabadell." If I will ask you, the amount of financial institutions exist in Europe, your right response would certainly be way too many," Machenil claimed." If we are extremely ragged in activity, therefore the competition is actually not the same factor as what you could see in various other locations. Therefore ... you primarily ought to acquire that consolidation and get that going," he added.Milan-based UniCredit has ratcheted up the tension on Frankfurt-based Commerzbank in current weeks as it looks for to end up being the most significant financier in Germany's second-largest lending institution along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, shows up to have actually recorded German authorities off guard with the potential multibillion-euro merger.German Chancellor Olaf Scholz, that has actually formerly called for greater assimilation in Europe's financial market, is strongly opposed to the noticeable takeover effort. Scholz has actually apparently defined UniCredit's relocation as an "antagonistic" as well as "hostile" attack.Germany's placement on UniCredit's swoop has cued some to charge Berlin of preferring European financial assimilation merely by itself terms.Domestic consolidationBNP Paribas's Machenil stated that while domestic combination will help to support unpredictability in Europe's banking atmosphere, cross-border combination was actually "still a little additional away," presenting differing bodies as well as products.Asked whether this meant he felt cross-border financial mergings in Europe appeared to something of a strange fact, Machenil responded: "It's 2 different points."" I assume the ones which remain in a nation, financially, they make good sense, as well as they should, fiscally, happen," he proceeded. "When you examine definitely cross border. Therefore, a bank that is actually located in one nation only and also based in another nation simply, that fiscally doesn't make sense since there are actually no harmonies." Previously in the year, Spanish banking company BBVA surprised marketsu00c2 when it released an all-share requisition provide for domestic competing Banco Sabadell.The scalp of Banco Sabadell stated earlier this month that it is extremely unexpected BBVA is going to succeed along with its multi-billion-euro hostile bid, News agency reported.u00c2 As well as yet, BBVA chief executive officer Onur Genu00c3 u00a7 said to CNBC on Wednesday that the takeover was actually "moving according to strategy." Spanish authorizations, which have the energy to shut out any sort of merging or achievement of a financial institution, have articulated their adversary to BBVA's aggressive takeover quote, presenting possibly damaging impacts on the county's financial unit.