French President Emmanuel Macron has reiterated his stance on the need for greater consolidation within Europe's banking sector, even if it means a major French bank being acquired by a European rival.

During a TV interview with Bloomberg on Monday, Macron expressed his willingness to embrace such a scenario, underscoring his long-standing push for a European capital markets union.

Macron believes the current fragmentation of the region's banking sector is hindering the bloc's economic growth. When asked about the potential sale of France's Societe Generale to Spain's Santander, Macron responded, "Dealing as Europeans means you need consolidation as Europeans."

His statement suggests a willingness to consider cross-border mergers and acquisitions within the European banking industry.

While Macron appears open to consolidation among banks, he expressed reservations about French companies relocating their primary listings outside of Europe.

Specifically, he stated that he would not be pleased if the French oil giant Total were to move its primary listing to the United States, although he acknowledged that such a move was merely a rumour at this point.

Macron's comments came on the same day he welcomed global chief executives to the annual "Choose France" summit at the Palace of Versailles.

During the event, companies pledged to invest a record 15 billion euros ($16.17 billion) in the French economy, encompassing 56 different business projects with the potential to create 10,000 new jobs. The investments highlight France's continued efforts to attract foreign investment and foster economic growth.

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