Deutsche Bank top executives will forgo bonuses for a third consecutive year, chief executive John Cryan said at a technology and music conference in Austin, Texas, according to a spokesman.

Cryan’s comments, made Friday night at Austin’s South By Southwest, came after the German lender last month reported a third consecutive full-year loss. Despite the loss, Deutsche Bank’s total 2017 employee bonus payout will more than triple the previous year’s €546m ($672m), according to a person familiar with the matter.