Exhibit 99.23

MBNA MASTER CREDIT CARD TRUST II 

SERIES 1996-M

KEY PERFORMANCE FACTORS
JULY, 1997



        Expected B Maturity                                       12/15/06


        Blended Coupon                                          5.9928%



        Excess Protection Level
          3 Month Average  4.55%
          July, 1997  4.47%
          June, 1997  4.78%
          May, 1997  4.39%


        Cash Yield                                  17.58%


        Investor Charge Offs                        4.92%


        Base Rate                                   8.19%


        Over 35 Day Delinquency                     4.47%


        Seller's Interest                           18.18%


        Total Payment Rate                          14.22%


        Total Principal Balance                     $ 30,179,392,749.44


        Investor Participation Amount               $ 500,000,000.00


        Seller Participation Amount                 $ 5,486,155,230.95