.A join 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 claimed there are merely excessive European finance companies for the area to be capable to compete with opponents coming from the united state as well as Asia, requiring the creation of more native heavyweight financial champions.Speaking to CNBC's Charlotte Reed at the Bank of America Financials Chief Executive Officer Association, BNP Paribas Chief Financial Officer Lars Machenil articulated his support for more significant integration in Europe's banking sector.His opinions come as Italy's UniCredit ups the stake on its own evident requisition attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to proactively seek its own domestic competitor, u00c2 Banco Sabadell." If I would certainly ask you, how many banks exist in Europe, your right solution would certainly be actually way too many," Machenil pointed out." If we are quite broken in activity, consequently the competition is not the same thing as what you may find in various other regions. So ... you essentially should acquire that debt consolidation and receive that going," he added.Milan-based UniCredit has actually ratcheted up the tension on Frankfurt-based Commerzbank in latest full weeks as it finds to end up being the biggest real estate investor in Germany's second-largest creditor with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, seems to have captured German authorizations unsuspecting with the prospective multibillion-euro merger.German Chancellor Olaf Scholz, who has recently asked for greater assimilation in Europe's banking industry, is actually firmly opposed to the apparent requisition try. Scholz has actually reportedly explained UniCredit's action as an "hostile" and also "dangerous" attack.Germany's placement on UniCredit's swoop has caused some to implicate Berlin of preferring European financial integration simply on its own terms.Domestic consolidationBNP Paribas's Machenil stated that while residential unification would assist to maintain unpredictability in Europe's banking setting, cross-border integration was "still a bit additional away," pointing out differing units as well as products.Asked whether this meant he felt cross-border financial mergings in Europe seemed to something of an unrealistic reality, Machenil answered: "It's two different things."" I think the ones which reside in a country, financially, they make good sense, and they should, financially, occur," he proceeded. "When you examine actually ratty boundary. Therefore, a financial institution that is based in one country simply and also located in another country simply, that financially doesn't make good sense because there are actually no harmonies." Earlier in the year, Spanish banking company BBVA surprised marketsu00c2 when it introduced an all-share requisition provide for domestic rivalrous Banco Sabadell.The scalp of Banco Sabadell pointed out previously this month that it is actually extremely extremely unlikely BBVA will definitely be successful with its own multi-billion-euro unfavorable offer, Reuters reported.u00c2 And yet, BBVA CEO Onur Genu00c3 u00a7 told CNBC on Wednesday that the requisition was actually "moving depending on to strategy." Spanish authorities, which have the energy to block out any type of merging or even accomplishment of a financial institution, have articulated their adversary to BBVA's dangerous requisition proposal, mentioning likely hazardous impacts on the area's monetary device.