.A sign on 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 simply a lot of European loan providers for the region to be able to compete with rivals from the united state and also Asia, calling for the creation of more homemade big-time banking champions.Speaking to CNBC's Charlotte Reed at the Banking Company of The United States Financials CEO Event, BNP Paribas Main Financial Policeman Lars Machenil articulated his help for higher integration in Europe's banking sector.His reviews come as Italy's UniCredit ups the stake on its own evident requisition attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to definitely seek its own domestic competitor, u00c2 Banco Sabadell." If I will ask you, how many banking companies are there in Europe, your right solution would certainly be way too many," Machenil mentioned." If our team are very broken in activity, for that reason the competition is not the exact same trait as what you may view in other areas. So ... you primarily should get that combination and acquire that going," he added.Milan-based UniCredit has ratcheted up the stress on Frankfurt-based Commerzbank in latest weeks as it seeks to end up being the biggest financier in Germany's second-largest creditor along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, appears to have caught German authorities off guard along with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has formerly called for greater integration in Europe's financial field, is strongly resisted to the apparent requisition try. Scholz has apparently illustrated UniCredit's move as an "unfriendly" as well as "hostile" attack.Germany's placement on UniCredit's swoop has actually cued some to charge Berlin of favoring European financial assimilation only by itself terms.Domestic consolidationBNP Paribas's Machenil claimed that while domestic debt consolidation will assist to maintain anxiety in Europe's banking atmosphere, cross-border integration was actually "still a bit further away," citing differing bodies and also products.Asked whether this indicated he believed cross-border financial mergings in Europe showed up to something of a farfetched truth, Machenil responded: "It's two various factors."" I assume the ones which reside in a country, fiscally, they make sense, and also they should, economically, take place," he proceeded. "When you take a look at definitely ratty boundary. Thus, a banking company that is based in one country only as well as based in another country merely, that fiscally does not make good sense because there are no unities." Earlier in the year, Spanish bank BBVA shocked marketsu00c2 when it introduced an all-share takeover offer for domestic rival Banco Sabadell.The scalp of Banco Sabadell said previously this month that it is actually strongly extremely unlikely BBVA will definitely prosper along with its own multi-billion-euro dangerous bid, Wire service reported.u00c2 And also as yet, BBVA CEO Onur Genu00c3 u00a7 informed CNBC on Wednesday that the takeover was "relocating depending on to plan." Spanish authorizations, which possess the power to obstruct any sort of merger or achievement of a bank, have articulated their opponent to BBVA's hostile requisition bid, presenting likely damaging effects on the area's monetary unit.