.A register the exterior of a BNP Paribas SA banking company branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday said there are actually just too many European loan providers for the location to become capable to compete with competitors coming from the USA as well as Asia, asking for the development of more homemade big-time financial champions.Speaking to CNBC's Charlotte nc Reed at the Bank of The United States Financials CEO Event, BNP Paribas Chief Financial Policeman Lars Machenil articulated his help for greater integration in Europe's banking sector.His remarks come as Italy's UniCredit ups the stake on its apparent requisition attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to proactively seek its residential competitor, u00c2 Banco Sabadell." If I would certainly ask you, how many banks exist in Europe, your right solution would certainly be actually a lot of," Machenil claimed." If we are actually quite fragmented in task, therefore the competition is actually not the same trait as what you might find in various other locations. Thus ... you primarily should receive that consolidation as well as receive that going," he added.Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in latest full weeks as it seeks to end up being the largest investor in Germany's second-largest lending institution with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, shows up to have caught German authorities off guard along with the potential multibillion-euro merger.German Chancellor Olaf Scholz, that has recently required better assimilation in Europe's banking sector, is securely opposed to the noticeable requisition attempt. Scholz has actually reportedly explained UniCredit's move as an "antagonistic" and also "dangerous" attack.Germany's placement on UniCredit's swoop has actually caused some to implicate Berlin of favoring European banking integration simply on its own terms.Domestic consolidationBNP Paribas's Machenil stated that while domestic combination will aid to maintain anxiety in Europe's financial setting, cross-border integration was actually "still a bit more away," mentioning differing bodies as well as products.Asked whether this implied he felt cross-border financial mergings in Europe appeared to one thing of a farfetched fact, Machenil responded: "It is actually 2 different points."" I assume the ones which reside in a nation, economically, they make good sense, and also they should, economically, take place," he proceeded. "When you look at really cross perimeter. Therefore, a bank that is located in one country only as well as located in an additional nation simply, that economically does not make sense given that there are actually no synergies." Previously in the year, Spanish banking company BBVA shocked marketsu00c2 when it launched an all-share takeover promotion for residential competing Banco Sabadell.The head of Banco Sabadell said previously this month that it is very extremely unlikely BBVA will succeed with its own multi-billion-euro unfavorable bid, News agency reported.u00c2 And yet, BBVA CEO Onur Genu00c3 u00a7 informed CNBC on Wednesday that the requisition was actually "moving depending on to program." Spanish authorities, which have the electrical power to block any sort of merger or even accomplishment of a banking company, have articulated their opponent to BBVA's unfavorable requisition quote, citing likely harmful effects on the region's monetary device.