.A sign on the outdoor 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 actually merely excessive European finance companies for the location to become able to take on competitors coming from the united state and Asia, asking for the development of additional native heavyweight banking champions.Speaking to CNBC's Charlotte Reed at the Banking Company of America Financials CEO Association, BNP Paribas Main Financial Officer Lars Machenil voiced his assistance for more significant combination in Europe's banking sector.His comments come as Italy's UniCredit ups the stake on its own noticeable takeover attempt of Germany's Commerzbank, while Spain's BBVAu00c2 continues to actively pursue its residential rival, u00c2 Banco Sabadell." If I would ask you, the amount of banking companies are there in Europe, your right response would be actually a lot of," Machenil said." If our team are really broken in task, as a result the competition is not the exact same thing as what you might view in various other locations. Thus ... you primarily need to acquire that loan consolidation as well as obtain that going," he added.Milan-based UniCredit has ratcheted up the stress on Frankfurt-based Commerzbank in recent full weeks as it seeks to become the biggest investor in Germany's second-largest lender with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank previously this month, appears to have caught German authorities off-guard with the prospective multibillion-euro merger.German Chancellor Olaf Scholz, who has actually formerly asked for more significant assimilation in Europe's banking market, is actually firmly opposed to the apparent requisition attempt. Scholz has supposedly defined UniCredit's action as an "antagonistic" and also "hostile" attack.Germany's position on UniCredit's swoop has actually prompted some to implicate Berlin of choosing European banking combination just on its own terms.Domestic consolidationBNP Paribas's Machenil said that while domestic loan consolidation would assist to support uncertainty in Europe's banking environment, cross-border assimilation was "still a little more away," pointing out varying systems and also products.Asked whether this implied he felt cross-border banking mergers in Europe showed up to something of a farfetched fact, Machenil responded: "It's two various things."" I think the ones which reside in a nation, financially, they make good sense, as well as they should, fiscally, happen," he carried on. "When you look at really ratty border. Thus, a banking company that is actually located in one country just as well as located in one more country only, that fiscally doesn't make good sense due to the fact that there are actually no harmonies." Earlier in the year, Spanish banking company BBVA stunned marketsu00c2 when it released an all-share takeover offer for domestic rival Banco Sabadell.The head of Banco Sabadell mentioned earlier this month that it is actually extremely extremely unlikely BBVA will definitely succeed along with its own 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 "relocating depending on to plan." Spanish authorities, which possess the electrical power to block out any kind of merger or acquisition of a bank, have voiced their adversary to BBVA's unfavorable takeover offer, citing likely dangerous effects on the county's financial unit.