.A join the outdoor 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 said there are simply too many European lenders for the region to become capable to compete with opponents from the U.S. and Asia, requiring the creation of more organic heavyweight banking champions.Speaking to CNBC's Charlotte Splint at the Bank of America Financials Chief Executive Officer Association, BNP Paribas Principal Financial Policeman Lars Machenil voiced his help for better combination in Europe's banking sector.His remarks come as Italy's UniCredit ups the ante on its own noticeable takeover attempt of Germany's Commerzbank, while Spain's BBVAu00c2 remains to actively pursue its own residential rival, u00c2 Banco Sabadell." If I would certainly ask you, how many banks exist in Europe, your right response would be actually way too many," Machenil pointed out." If our experts are actually incredibly broken in activity, for that reason the competition is actually not the same trait as what you could observe in other regions. Thus ... you basically need to receive that unification and receive that going," he added.Milan-based UniCredit has ratcheted up the stress on Frankfurt-based Commerzbank in latest weeks as it seeks to come to be the largest client in Germany's second-largest finance company with a 21% stake.UniCredit, which took a 9% stakeu00c2 in Commerzbank earlier this month, seems to have recorded German authorizations off-guard along with the potential multibillion-euro merger.German Chancellor Olaf Scholz, that has recently called for more significant combination in Europe's banking market, is actually securely opposed to the apparent takeover effort. Scholz has apparently illustrated UniCredit's technique as an "hostile" and also "dangerous" attack.Germany's setting on UniCredit's swoop has triggered some to indict Berlin of favoring European financial combination only by itself terms.Domestic consolidationBNP Paribas's Machenil stated that while residential debt consolidation would assist to stabilize uncertainty in Europe's banking setting, cross-border combination was "still a little further away," citing varying devices and also products.Asked whether this implied he thought cross-border financial mergings in Europe showed up to something of a farfetched reality, Machenil answered: "It's pair of different points."" I believe the ones which reside in a country, financially, they make good sense, and also they should, financially, happen," he proceeded. "When you look at actually cross boundary. So, a financial institution that is based in one nation only and based in yet another nation only, that fiscally doesn't make sense because there are actually no harmonies." Previously in the year, Spanish banking company BBVA surprised marketsu00c2 when it launched an all-share requisition provide for residential rival Banco Sabadell.The head of Banco Sabadell stated previously this month that it is very improbable BBVA is going to succeed along with its own multi-billion-euro hostile proposal, News agency reported.u00c2 And yet, BBVA chief executive officer Onur Genu00c3 u00a7 said to CNBC on Wednesday that the takeover was actually "moving according to planning." Spanish authorities, which have the power to shut out any merger or achievement of a banking company, have voiced their adversary to BBVA's aggressive requisition bid, mentioning likely dangerous effects on the region's financial system.