.A sign on the outdoor of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg|Bloomberg|Getty ImagesFrance's BNP Paribas on Thursday said there are actually just way too many International finance companies for the region to be capable to compete with rivals coming from the U.S. and Asia, calling for the creation of more organic heavyweight banking champions.Speaking to CNBC's Charlotte Reed at the Banking Company of The United States Financials Chief Executive Officer Event, BNP Paribas Chief Financial Police officer Lars Machenil voiced his assistance for greater combination in Europe's financial sector.His comments happen as Italy's UniCredit ups the stake on its obvious takeover try of Germany's Commerzbank, while Spain's BBVAu00c2 remains to actively pursue its own residential competitor, u00c2 Banco Sabadell." If I would inquire you, the number of financial institutions are there in Europe, your right answer would certainly be way too many," Machenil claimed." If our team are actually extremely ragged in task, therefore the competitors is actually not the exact same thing as what you could view in other areas. Therefore ... you basically should obtain that unification as well as receive that going," he added.Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent full weeks as it finds to come to be the biggest client in Germany's second-largest finance company along with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, appears to have actually captured German authorizations off guard along with the potential multibillion-euro merger.German Chancellor Olaf Scholz, who has previously called for greater integration in Europe's banking sector, is actually securely resisted to the noticeable requisition effort. Scholz has actually reportedly described UniCredit's move as an "unfriendly" as well as "dangerous" attack.Germany's posture on UniCredit's swoop has actually prompted some to accuse Berlin of choosing European financial integration simply on its own terms.Domestic consolidationBNP Paribas's Machenil claimed that while domestic unification would certainly help to support anxiety in Europe's financial setting, cross-border integration was actually "still a little further away," pointing out contrasting devices as well as products.Asked whether this meant he thought cross-border financial mergers in Europe seemed to something of a dubious reality, Machenil responded: "It is actually pair of different factors."" I think the ones which remain in a country, fiscally, they make good sense, as well as they should, financially, take place," he continued. "When you take a look at really cross perimeter. So, a bank that is actually located in one country only and also based in one more nation just, that fiscally doesn't make good sense considering that there are no harmonies." Previously in the year, Spanish banking company BBVA shocked marketsu00c2 when it launched an all-share requisition provide for residential rival Banco Sabadell.The head of Banco Sabadell pointed out earlier this month that it is strongly extremely unlikely BBVA will definitely do well along with its own multi-billion-euro unfavorable bid, Reuters reported.u00c2 And yet, BBVA chief executive officer Onur Genu00c3 u00a7 said to CNBC on Wednesday that the takeover was "moving depending on to strategy." Spanish authorizations, which have the energy to obstruct any kind of merging or even accomplishment of a banking company, have articulated their adversary to BBVA's aggressive takeover quote, pointing out possibly unsafe impacts on the area's monetary device.