Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
July 31, 1997



        Expected B Maturity                         11/17/97


        Blended Coupon                               5.91891%



        Excess Protection Level
          3 Month Average   4.59%
            July, 1997   4.49%
            June, 1997   4.82%
            May, 1997   4.47%


        Cash Yield                                  17.53%


        Investor Charge Offs                         4.92%


        Base Rate                                    8.12%


        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               $ 1,000,000,000.00


        Seller Participation Amount                 $ 5,486,155,230.95