.An enroll 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 mentioned there are just excessive European financial institutions for the region to become able to compete with opponents coming from the U.S. and Asia, requiring the development of even more native big-time financial champions.Speaking to CNBC's Charlotte Reed at the Financial Institution of The United States Financials CEO Conference, BNP Paribas Chief Financial Policeman Lars Machenil articulated his support for greater integration in Europe's banking sector.His opinions happen as Italy's UniCredit ups the stake on its noticeable requisition try of Germany's Commerzbank, while Spain's BBVAu00c2 continues to definitely seek its domestic rival, u00c2 Banco Sabadell." If I would inquire you, how many financial institutions exist in Europe, your right solution will be way too many," Machenil said." If our experts are actually extremely broken in activity, for that reason the competitors is actually certainly not the same thing as what you may see in other regions. So ... you basically must receive that consolidation and acquire that going," he added.Milan-based UniCredit has actually ratcheted up the tension on Frankfurt-based Commerzbank in latest weeks as it seeks to come to be the largest real estate investor in Germany's second-largest finance company with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, shows up to have actually caught German authorities off guard with the possible multibillion-euro merger.German Chancellor Olaf Scholz, that has actually recently asked for better combination in Europe's banking market, is firmly resisted to the noticeable requisition effort. Scholz has actually apparently explained UniCredit's relocation as an "hostile" and "dangerous" attack.Germany's placement on UniCredit's swoop has actually urged some to accuse Berlin of choosing European banking combination simply by itself terms.Domestic consolidationBNP Paribas's Machenil mentioned that while domestic consolidation would help to maintain anxiety in Europe's financial environment, cross-border combination was "still a little additional away," presenting contrasting systems and products.Asked whether this indicated he felt cross-border financial mergings in Europe appeared to one thing of an unrealistic truth, Machenil answered: "It is actually 2 different traits."" I assume the ones which reside in a nation, economically, they make good sense, as well as they should, financially, take place," he continued. "When you take a look at truly cross border. Therefore, a financial institution that is actually located in one country only as well as based in an additional country merely, that fiscally doesn't make sense since there are no unities." Earlier in the year, Spanish bank BBVA shocked marketsu00c2 when it released an all-share requisition offer for domestic rivalrous Banco Sabadell.The scalp of Banco Sabadell said earlier this month that it is actually strongly not likely BBVA will be successful along with its multi-billion-euro unfavorable proposal, Wire service reported.u00c2 And yet, BBVA chief executive officer Onur Genu00c3 u00a7 informed CNBC on Wednesday that the requisition was actually "relocating according to strategy." Spanish authorities, which possess the energy to block any merging or even achievement of a financial institution, have voiced their opponent to BBVA's hostile requisition bid, citing possibly damaging impacts on the region's economic unit.