.A join the outdoor of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday mentioned there are actually simply too many European loan providers for the region to become able to compete with competitors from the U.S. and also Asia, requiring the production of even more homemade big-time banking champions.Speaking to CNBC's Charlotte nc Reed at the Bank of America Financials Chief Executive Officer Conference, BNP Paribas Main Financial Policeman Lars Machenil articulated his help for higher integration in Europe's banking sector.His comments happen as Italy's UniCredit ups the stake on its obvious takeover attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to proactively seek its own domestic opponent, u00c2 Banco Sabadell." If I would certainly ask you, how many banks are there in Europe, your right answer would certainly be too many," Machenil pointed out." If we are actually incredibly ragged in activity, for that reason the competitors is certainly not the same factor as what you could see in other areas. Thus ... you generally ought to get that loan consolidation and obtain that going," he added.Milan-based UniCredit has ratcheted up the tension on Frankfurt-based Commerzbank in recent weeks as it seeks to become the greatest real estate investor in Germany's second-largest loan provider along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, shows up to have caught German authorities unsuspecting along with the prospective multibillion-euro merger.German Chancellor Olaf Scholz, that has actually recently asked for more significant combination in Europe's financial industry, is actually firmly opposed to the noticeable requisition attempt. Scholz has apparently described UniCredit's action as an "unfriendly" as well as "unfavorable" attack.Germany's position on UniCredit's swoop has motivated some to charge Berlin of choosing International banking assimilation only on its own terms.Domestic consolidationBNP Paribas's Machenil stated that while domestic debt consolidation would certainly assist to support uncertainty in Europe's financial atmosphere, cross-border integration was actually "still a bit further away," citing contrasting bodies and products.Asked whether this suggested he strongly believed cross-border financial mergers in Europe showed up to one thing of an unrealistic truth, Machenil replied: "It is actually pair of various points."" I believe the ones which are in a nation, financially, they make good sense, and they should, economically, occur," he carried on. "When you consider actually ratty boundary. Therefore, a banking company that is actually located in one nation simply and located in another nation only, that economically does not make sense given that there are actually no synergies." Earlier in the year, Spanish bank BBVA stunned marketsu00c2 when it released an all-share takeover offer for residential competing Banco Sabadell.The scalp of Banco Sabadell stated previously this month that it is strongly unexpected BBVA will definitely succeed along with its multi-billion-euro aggressive proposal, Wire service reported.u00c2 And also yet, BBVA chief executive officer Onur Genu00c3 u00a7 informed CNBC on Wednesday that the requisition was "relocating according to plan." Spanish authorizations, which possess the power to obstruct any type of merger or even accomplishment of a banking company, have actually articulated their opponent to BBVA's unfavorable requisition offer, presenting potentially unsafe effects on the area's monetary device.