.A sign on the outside 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 actually simply too many European financial institutions for the location to be capable to compete with competitors from the U.S. and also Asia, calling for the production of more domestic big-time banking champions.Speaking to CNBC's Charlotte Splint at the Bank of The United States Financials CEO Association, BNP Paribas Chief Financial Policeman Lars Machenil voiced his assistance for higher integration in Europe's financial sector.His comments happen as Italy's UniCredit ups the ante on its obvious requisition attempt of Germany's Commerzbank, while Spain's BBVAu00c2 continues to actively seek its own domestic opponent, u00c2 Banco Sabadell." If I would inquire you, the number of banks are there in Europe, your right answer would certainly be too many," Machenil said." If our experts are quite broken in activity, therefore the competitors is actually not the very same point as what you could observe in other areas. Therefore ... you generally ought to acquire that debt consolidation as well as acquire that going," he added.Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in latest weeks as it looks for to come to be the biggest real estate investor in Germany's second-largest lending institution along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, shows up to have actually captured German authorities unsuspecting along with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has actually formerly asked for greater integration in Europe's financial field, is actually firmly opposed to the noticeable takeover attempt. Scholz has apparently illustrated UniCredit's relocation as an "hostile" and also "hostile" attack.Germany's placement on UniCredit's swoop has actually triggered some to implicate Berlin of favoring International banking combination simply on its own terms.Domestic consolidationBNP Paribas's Machenil mentioned that while domestic combination will assist to stabilize uncertainty in Europe's financial atmosphere, cross-border assimilation was "still a bit additional away," citing differing systems and products.Asked whether this suggested he strongly believed cross-border banking mergings in Europe seemed to something of a strange truth, Machenil answered: "It is actually two various points."" I assume the ones which are in a country, fiscally, they make sense, as well as they should, fiscally, happen," he continued. "When you look at truly cross perimeter. Thus, a financial institution that is located in one nation merely and also based in yet another nation merely, that fiscally doesn't make good sense since there are no harmonies." Earlier in the year, Spanish banking company BBVA surprised marketsu00c2 when it released an all-share takeover offer for domestic competing Banco Sabadell.The head of Banco Sabadell claimed previously this month that it is actually highly unlikely BBVA is going to succeed along with its multi-billion-euro dangerous offer, Wire service reported.u00c2 As well as as yet, BBVA CEO Onur Genu00c3 u00a7 said to CNBC on Wednesday that the takeover was "moving depending on to planning." Spanish authorizations, which have the electrical power to shut out any sort of merger or achievement of a financial institution, have articulated their opponent to BBVA's hostile takeover proposal, citing possibly hazardous results on the region's financial system.