France’s biggest lender says there are ‘too many’ European banks as UniCredit moves on Commerzbank

Key Points

BNP Paribas Chief Financial Officer Lars Machenil on Thursday voiced his support for greater integration in Europe’s banking sector.
His comments come as Italy’s UniCredit ups the ante on its apparent takeover attempt of Germany’s Commerzbank, while Spain’s BBVA continues to actively pursue its domestic rival, Banco Sabadell.
“If I would ask you, how many banks are there in Europe, your right answer would be too many,” Machenil said.

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