.A register the outdoor of a BNP Paribas SA banking company division in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday claimed there are actually simply way too many European lenders for the region to become capable to compete with competitors from the USA and Asia, requiring the production of additional homemade heavyweight financial champions.Speaking to CNBC's Charlotte Splint at the Banking Company of United States Financials Chief Executive Officer Event, BNP Paribas Chief Financial Officer Lars Machenil articulated his assistance for greater integration in Europe's banking sector.His remarks come as Italy's UniCredit ups the ante on its evident requisition attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to definitely pursue its own residential rival, u00c2 Banco Sabadell." If I would inquire you, the number of financial institutions are there in Europe, your right solution would be actually a lot of," Machenil claimed." If our team are actually quite fragmented in task, as a result the competition is actually certainly not the very same trait as what you might find in other regions. Thus ... you generally need to obtain that unification as well as receive that going," he added.Milan-based UniCredit has actually ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it looks for to become the most significant real estate investor in Germany's second-largest financial institution with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, appears to have captured German authorizations off-guard with the possible multibillion-euro merger.German Chancellor Olaf Scholz, who has actually recently required greater assimilation in Europe's banking sector, is actually strongly resisted to the noticeable takeover attempt. Scholz has actually reportedly defined UniCredit's step as an "antagonistic" and "dangerous" attack.Germany's posture on UniCredit's swoop has cued some to indict Berlin of preferring European banking combination simply on its own terms.Domestic consolidationBNP Paribas's Machenil pointed out that while domestic consolidation would certainly help to stabilize uncertainty in Europe's financial environment, cross-border combination was "still a bit further away," presenting contrasting units as well as products.Asked whether this meant he felt cross-border banking mergings in Europe showed up to one thing of a strange reality, Machenil responded: "It is actually 2 different points."" I presume the ones which are in a nation, financially, they make good sense, and they should, fiscally, occur," he proceeded. "When you examine truly cross boundary. Therefore, a financial institution that is actually located in one country merely and also located in another country merely, that economically doesn't make good sense because there are no harmonies." Earlier in the year, Spanish financial institution BBVA stunned marketsu00c2 when it introduced an all-share takeover promotion for residential competing Banco Sabadell.The head of Banco Sabadell stated previously this month that it is actually extremely unexpected BBVA is going to succeed along with its own multi-billion-euro dangerous bid, News agency reported.u00c2 And also yet, BBVA CEO Onur Genu00c3 u00a7 informed CNBC on Wednesday that the takeover was actually "relocating according to plan." Spanish authorities, which have the power to block out any type of merging or even accomplishment of a banking company, have actually articulated their opposition to BBVA's hostile takeover proposal, pointing out possibly hazardous results on the region's financial unit.