.A register the exterior of a BNP Paribas SA financial institution branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday pointed out there are simply too many European lending institutions for the area to be capable to compete with opponents coming from the U.S. as well as Asia, asking for the production of more organic big-time banking champions.Speaking to CNBC's Charlotte nc Splint at the Financial Institution of The United States Financials CEO Association, BNP Paribas Chief Financial Policeman Lars Machenil voiced his assistance for higher combination in Europe's banking sector.His opinions happen as Italy's UniCredit ups the stake on its own obvious takeover attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to proactively seek its residential competitor, u00c2 Banco Sabadell." If I will inquire you, the number of banks exist in Europe, your right solution would be too many," Machenil mentioned." If we are really broken in activity, as a result the competitors is actually not the same thing as what you might observe in various other locations. Therefore ... you essentially should receive that consolidation and also get that going," he added.Milan-based UniCredit has ratcheted up the stress on Frankfurt-based Commerzbank in current weeks as it looks for to come to be the greatest investor in Germany's second-largest loan provider with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, shows up to have actually captured German authorizations off guard along with the possible multibillion-euro merger.German Chancellor Olaf Scholz, who has actually formerly asked for greater combination in Europe's financial market, is actually strongly opposed to the evident takeover try. Scholz has actually supposedly defined UniCredit's action as an "antagonistic" as well as "dangerous" attack.Germany's placement on UniCredit's swoop has prompted some to charge Berlin of choosing International financial assimilation merely by itself terms.Domestic consolidationBNP Paribas's Machenil mentioned that while domestic loan consolidation would certainly aid to support unpredictability in Europe's banking atmosphere, cross-border integration was actually "still a little additional away," pointing out differing devices and products.Asked whether this indicated he strongly believed cross-border financial mergings in Europe appeared to something of a dubious truth, Machenil replied: "It is actually pair of different factors."" I assume the ones which remain in a country, fiscally, they make sense, as well as they should, economically, take place," he proceeded. "When you consider definitely cross border. So, a banking company that is actually located in one country only and also based in yet another country only, that fiscally doesn't make good sense due to the fact that there are actually no harmonies." Earlier in the year, Spanish bank BBVA surprised marketsu00c2 when it introduced an all-share takeover provide for residential rival Banco Sabadell.The head of Banco Sabadell mentioned earlier this month that it is very extremely unlikely BBVA will certainly succeed along with its own multi-billion-euro dangerous quote, Reuters reported.u00c2 As well as as yet, BBVA CEO Onur Genu00c3 u00a7 informed CNBC on Wednesday that the takeover was "moving depending on to program." Spanish authorities, which have the electrical power to block any merger or acquisition of a bank, have actually articulated their opposition to BBVA's unfavorable takeover bid, pointing out potentially hazardous effects on the county's financial unit.