.An enroll 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 mentioned there are actually merely excessive European finance companies for the location to become able to take on competitors coming from the united state and also Asia, calling for the production of additional homegrown big-time financial champions.Speaking to CNBC's Charlotte Splint at the Financial Institution of America Financials Chief Executive Officer Event, BNP Paribas Principal Financial Police officer Lars Machenil voiced his assistance for greater integration in Europe's financial sector.His comments come as Italy's UniCredit ups the ante on its own apparent requisition effort of Germany's Commerzbank, while Spain's BBVAu00c2 continues to proactively pursue its residential competitor, u00c2 Banco Sabadell." If I would inquire you, how many banks exist in Europe, your right answer would certainly be way too many," Machenil mentioned." If our company are quite fragmented in activity, as a result the competitors is actually not the very same trait as what you might see in various other locations. Therefore ... you primarily need to get that unification as well as receive that going," he added.Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in current weeks as it looks for to become the greatest entrepreneur in Germany's second-largest lending institution with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, shows up to have actually captured German authorities off-guard with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has earlier required higher assimilation in Europe's banking field, is strongly opposed to the obvious requisition effort. Scholz has actually supposedly defined UniCredit's relocation as an "hostile" and "dangerous" attack.Germany's placement on UniCredit's swoop has actually motivated some to accuse Berlin of preferring International banking assimilation merely on its own terms.Domestic consolidationBNP Paribas's Machenil said that while residential loan consolidation would certainly aid to support uncertainty in Europe's banking atmosphere, cross-border assimilation was "still a little bit more away," citing contrasting devices and products.Asked whether this meant he strongly believed cross-border financial mergings in Europe seemed to one thing of a farfetched reality, Machenil responded: "It's two various factors."" I presume the ones which reside in a nation, financially, they make good sense, as well as they should, fiscally, take place," he carried on. "When you examine really ratty perimeter. So, a financial institution that is actually located in one country only and based in yet another nation merely, that economically doesn't make good sense since there are no synergies." Earlier in the year, Spanish banking company BBVA stunned marketsu00c2 when it introduced an all-share requisition offer for domestic rival Banco Sabadell.The head of Banco Sabadell said previously this month that it is highly extremely unlikely BBVA will do well along with its multi-billion-euro aggressive bid, News agency reported.u00c2 And also as yet, BBVA CEO Onur Genu00c3 u00a7 told CNBC on Wednesday that the requisition was actually "relocating depending on to strategy." Spanish authorities, which have the energy to block any type of merger or even achievement of a bank, have actually voiced their opposition to BBVA's unfavorable requisition quote, presenting possibly unsafe impacts on the area's financial body.