.A join the exterior of a BNP Paribas SA banking company division in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday claimed there are merely a lot of European lending institutions for the region to be capable to compete with opponents coming from the USA and Asia, calling for the creation of more homegrown heavyweight financial champions.Speaking to CNBC's Charlotte Splint at the Bank of United States Financials Chief Executive Officer Association, BNP Paribas Principal Financial Officer Lars Machenil voiced his assistance for better assimilation in Europe's financial sector.His reviews come as Italy's UniCredit ups the stake on its own noticeable takeover attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to actively seek its own domestic competitor, u00c2 Banco Sabadell." If I will ask you, the number of financial institutions are there in Europe, your right answer would certainly be actually too many," Machenil stated." If our company are actually really broken in task, as a result the competition is actually not the same point as what you could find in other regions. So ... you essentially must acquire that consolidation and obtain that going," he added.Milan-based UniCredit has ratcheted up the tension on Frankfurt-based Commerzbank in recent full weeks as it looks for to become the biggest financier in Germany's second-largest financial institution along 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 possible multibillion-euro merger.German Chancellor Olaf Scholz, that has previously called for more significant assimilation in Europe's banking sector, is actually strongly opposed to the evident takeover try. Scholz has actually reportedly explained UniCredit's step as an "unfriendly" and also "hostile" attack.Germany's placement on UniCredit's swoop has actually urged some to indict Berlin of preferring European banking combination just by itself terms.Domestic consolidationBNP Paribas's Machenil pointed out that while domestic debt consolidation would assist to maintain anxiety in Europe's banking environment, cross-border integration was "still a little further away," pointing out contrasting bodies as well as products.Asked whether this meant he believed cross-border financial mergers in Europe appeared to something of an unrealistic fact, Machenil responded: "It's pair of different points."" I think the ones which are in a nation, fiscally, they make sense, as well as they should, economically, occur," he continued. "When you examine really ratty boundary. Therefore, a financial institution that is based in one nation merely and also based in an additional country only, that economically does not make good sense given that there are actually no unities." Earlier in the year, Spanish financial institution BBVA shocked marketsu00c2 when it introduced an all-share requisition promotion for domestic rival Banco Sabadell.The head of Banco Sabadell said previously this month that it is actually strongly improbable BBVA will definitely be successful with its own multi-billion-euro unfavorable quote, Wire service reported.u00c2 As well as as yet, BBVA CEO Onur Genu00c3 u00a7 said to CNBC on Wednesday that the takeover was actually "relocating according to strategy." Spanish authorities, which have the power to block any type of merger or achievement of a financial institution, have actually articulated their opposition to BBVA's aggressive takeover proposal, citing possibly harmful impacts on the region's financial device.