Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
May 31, 1997



        Expected B Maturity                         11/17/97


        Blended Coupon                               5.88913%



        Excess Protection Level
          3 Month Average   4.63%
            May, 1997   4.47%
            April, 1997   3.75%
            March, 1997   5.66%


        Cash Yield                                  17.28%


        Investor Charge Offs                         4.53%


        Base Rate                                    8.28%


        Over 35 Day Delinquency                      4.38%


        Seller's Interest                           15.43%


        Total Payment Rate                          12.75%


        Total Principal Balance                     $ 27,132,480,390.99


        Investor Participation Amount               $ 1,000,000,000.00


        Seller Participation Amount                 $ 4,186,442,872.50