.A sign on 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 said there are merely a lot of European loan providers for the region to be able to take on opponents coming from the U.S. and Asia, calling for the development of more homemade heavyweight banking champions.Speaking to CNBC's Charlotte Reed at the Banking Company of United States Financials Chief Executive Officer Event, BNP Paribas Chief Financial Policeman Lars Machenil voiced his support for better integration in Europe's financial sector.His opinions happen as Italy's UniCredit ups the ante on its own apparent takeover effort of Germany's Commerzbank, while Spain's BBVAu00c2 remains to proactively pursue its domestic competitor, u00c2 Banco Sabadell." If I will ask you, the amount of financial institutions are there in Europe, your right answer would certainly be actually excessive," Machenil claimed." If our team are actually really fragmented in task, for that reason the competition is actually certainly not the exact same trait as what you might view in various other areas. Thus ... you generally must receive that debt consolidation and also obtain that going," he added.Milan-based UniCredit has ratcheted up the stress on Frankfurt-based Commerzbank in current full weeks as it seeks to become the greatest financier in Germany's second-largest creditor along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, seems to have actually captured German authorities off-guard with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has previously asked for better combination in Europe's banking sector, is actually firmly opposed to the evident requisition try. Scholz has supposedly explained UniCredit's action as an "hostile" and also "dangerous" attack.Germany's placement on UniCredit's swoop has actually prompted some to charge Berlin of choosing European banking combination merely on its own terms.Domestic consolidationBNP Paribas's Machenil mentioned that while residential debt consolidation will help to maintain uncertainty in Europe's financial setting, cross-border assimilation was actually "still a bit further away," pointing out contrasting units as well as products.Asked whether this meant he strongly believed cross-border financial mergers in Europe seemed to something of a bizarre truth, Machenil responded: "It is actually pair of different traits."" I presume the ones which are in a country, fiscally, they make sense, as well as they should, fiscally, take place," he carried on. "When you check out actually ratty border. Therefore, a financial institution that is based in one country simply and also located in another country simply, that fiscally doesn't make sense because there are no harmonies." Previously in the year, Spanish bank BBVA surprised marketsu00c2 when it released an all-share requisition deal for domestic rival Banco Sabadell.The head of Banco Sabadell pointed out earlier this month that it is highly improbable BBVA is going to be successful with its multi-billion-euro aggressive bid, Reuters reported.u00c2 As well as yet, BBVA CEO Onur Genu00c3 u00a7 said to CNBC on Wednesday that the requisition was actually "relocating depending on to program." Spanish authorizations, which possess the energy to block out any type of merger or accomplishment of a financial institution, have actually articulated their opponent to BBVA's unfavorable takeover bid, citing possibly hazardous impacts on the county's economic unit.