Turkey's banks loaned a total of 1.056 trillion Turkish lira ($503 billion) in the week ending May 16, Turkey's Central Bank said in its weekly bulletin Thursday. 

The credit volume stood at 1.048 trillion Turkish lira as of April 11, increasing by 7.5 billion Turkish lira in a week.

The overall credit volume, excluding financials, totaled 1.036 trillion Turkish lira, increasing by 27 percent compared to the same week in 2013.