.A join the exterior of a BNP Paribas SA bank division in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday mentioned there are actually merely too many European lenders for the area to become capable to compete with competitors coming from the USA and also Asia, calling for the creation of even more homemade heavyweight banking champions.Speaking to CNBC's Charlotte Reed at the Financial Institution of The United States Financials CEO Event, BNP Paribas Main Financial Officer Lars Machenil articulated his assistance for higher integration in Europe's financial sector.His reviews happen as Italy's UniCredit ups the stake on its apparent takeover effort of Germany's Commerzbank, while Spain's BBVAu00c2 continues to actively seek its residential opponent, u00c2 Banco Sabadell." If I would ask you, the amount of banks exist in Europe, your right answer would certainly be actually too many," Machenil stated." If our company are really ragged in task, therefore the competitors is not the same point as what you may see in various other areas. So ... you generally must receive that consolidation and acquire that going," he added.Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it finds to become the most significant investor in Germany's second-largest lending institution along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, seems to have actually caught German authorities unsuspecting with the prospective multibillion-euro merger.German Chancellor Olaf Scholz, who has earlier required higher combination in Europe's banking market, is actually firmly opposed to the evident requisition try. Scholz has supposedly defined UniCredit's move as an "hostile" and "hostile" attack.Germany's setting on UniCredit's swoop has caused some to implicate Berlin of favoring International financial assimilation only by itself terms.Domestic consolidationBNP Paribas's Machenil claimed that while domestic unification will assist to support uncertainty in Europe's financial atmosphere, cross-border assimilation was actually "still a bit more away," pointing out varying systems as well as products.Asked whether this indicated he strongly believed cross-border banking mergings in Europe appeared to one thing of an unrealistic truth, Machenil responded: "It is actually two various things."" I think the ones which remain in a nation, financially, they make sense, and they should, economically, take place," he proceeded. "When you look at really cross boundary. Thus, a banking company that is actually based in one nation simply and also based in yet another country simply, that financially doesn't make sense since there are actually no harmonies." Previously in the year, Spanish banking company BBVA stunned marketsu00c2 when it launched an all-share requisition offer for residential rival Banco Sabadell.The scalp of Banco Sabadell said previously this month that it is strongly unlikely BBVA is going to succeed with its own multi-billion-euro hostile quote, Wire service reported.u00c2 As well as yet, BBVA chief executive officer Onur Genu00c3 u00a7 informed CNBC on Wednesday that the requisition was "relocating depending on to plan." Spanish authorizations, which possess the energy to shut out any merging or even acquisition of a banking company, have articulated their opposition to BBVA's unfavorable takeover offer, pointing out possibly dangerous impacts on the area's monetary system.