.A sign on the exterior 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 just too many International lending institutions for the location to become able to take on opponents coming from the USA and Asia, requiring the production of even more native heavyweight financial champions.Speaking to CNBC's Charlotte nc Splint at the Banking Company of United States Financials Chief Executive Officer Event, BNP Paribas Principal Financial Policeman Lars Machenil articulated his support for greater integration in Europe's banking sector.His opinions happen as Italy's UniCredit ups the ante on its apparent takeover effort of Germany's Commerzbank, while Spain's BBVAu00c2 continues to actively seek its domestic rival, u00c2 Banco Sabadell." If I would ask you, the number of banks are there in Europe, your right response will be actually way too many," Machenil claimed." If our company are extremely broken in task, consequently the competitors is actually not the same point as what you could view in various other areas. So ... you generally ought to get that consolidation and also obtain that going," he added.Milan-based UniCredit has ratcheted up the tension on Frankfurt-based Commerzbank in current weeks as it finds to become the greatest investor in Germany's second-largest lender with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, seems to have captured German authorizations off-guard with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has actually formerly asked for better assimilation in Europe's banking sector, is actually securely resisted to the apparent takeover attempt. Scholz has reportedly defined UniCredit's technique as an "antagonistic" and "dangerous" attack.Germany's setting on UniCredit's swoop has actually caused some to indict Berlin of choosing European banking combination simply on its own terms.Domestic consolidationBNP Paribas's Machenil pointed out that while residential loan consolidation will aid to maintain unpredictability in Europe's financial environment, cross-border combination was "still a little bit more away," citing contrasting units and products.Asked whether this meant he strongly believed cross-border financial mergers in Europe appeared to something of a farfetched truth, Machenil responded: "It's 2 various factors."" I think the ones which are in a country, economically, they make good sense, and they should, financially, happen," he continued. "When you take a look at really ratty border. Therefore, a bank that is actually located in one nation merely and also located in an additional nation simply, that fiscally doesn't make sense since there are actually no unities." Earlier in the year, Spanish financial institution BBVA shocked marketsu00c2 when it introduced an all-share takeover provide for domestic competing Banco Sabadell.The head of Banco Sabadell stated previously this month that it is actually very unlikely BBVA will certainly be successful along with its multi-billion-euro unfavorable proposal, News agency reported.u00c2 And yet, BBVA CEO Onur Genu00c3 u00a7 informed CNBC on Wednesday that the takeover was "relocating according to plan." Spanish authorizations, which possess the power to block any sort of merger or accomplishment of a banking company, have actually articulated their opposition to BBVA's hostile takeover offer, presenting likely hazardous results on the county's financial unit.