.A join the exterior 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 pointed out there are just too many European loan providers for the location to be able to take on opponents coming from the U.S. and Asia, calling for the development of additional homegrown heavyweight financial champions.Speaking to CNBC's Charlotte Splint at the Banking Company of The United States Financials CEO Event, BNP Paribas Main Financial Policeman Lars Machenil articulated his assistance for better combination in Europe's banking sector.His opinions come as Italy's UniCredit ups the stake on its obvious takeover attempt of Germany's Commerzbank, while Spain's BBVAu00c2 continues to actively pursue its domestic competitor, u00c2 Banco Sabadell." If I would certainly inquire you, the amount of banking companies exist in Europe, your right answer will be actually too many," Machenil mentioned." If our team are actually quite broken in activity, for that reason the competition is actually certainly not the very same thing as what you might observe in other locations. So ... you essentially must receive that consolidation and get that going," he added.Milan-based UniCredit has actually ratcheted up the stress on Frankfurt-based Commerzbank in recent weeks as it seeks to come to be the biggest financier in Germany's second-largest creditor with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, appears to have captured German authorities unsuspecting along with the possible multibillion-euro merger.German Chancellor Olaf Scholz, that has previously called for greater assimilation in Europe's financial industry, is actually securely opposed to the evident takeover try. Scholz has supposedly explained UniCredit's technique as an "unfriendly" and also "dangerous" attack.Germany's setting on UniCredit's swoop has motivated some to indict Berlin of preferring International banking assimilation merely by itself terms.Domestic consolidationBNP Paribas's Machenil claimed that while residential consolidation would assist to maintain uncertainty in Europe's banking setting, cross-border integration was "still a little bit additional away," pointing out varying bodies and products.Asked whether this indicated he felt cross-border financial mergers in Europe showed up to one thing of an unlikely reality, Machenil replied: "It's two different traits."" I believe the ones which are in a country, financially, they make good sense, and also they should, economically, occur," he carried on. "When you examine definitely cross perimeter. Therefore, a bank that is based in one nation only and also based in another nation merely, that economically does not make good sense because there are actually no synergies." Earlier in the year, Spanish banking company BBVA surprised marketsu00c2 when it released an all-share takeover provide for residential rivalrous Banco Sabadell.The scalp of Banco Sabadell claimed previously this month that it is actually very unexpected BBVA will definitely prosper with its own multi-billion-euro aggressive quote, News agency reported.u00c2 As well as as yet, BBVA CEO Onur Genu00c3 u00a7 told CNBC on Wednesday that the takeover was "moving according to strategy." Spanish authorizations, which possess the power to obstruct any kind of merging or achievement of a banking company, have actually voiced their adversary to BBVA's aggressive takeover proposal, pointing out potentially damaging results on the county's financial body.