Exhibit 99.22

MBNA MASTER CREDIT CARD TRUST II 

SERIES 1996-M

KEY PERFORMANCE FACTORS
JANUARY, 1998



        Expected B Maturity                                       12/15/06


        Blended Coupon                                          6.0452%



        Excess Protection Level
          3 Month Average  4.89%
          January, 1998  4.59%
          December, 1997  5.33%
          November, 1997  4.76%


        Cash Yield                                  17.89%


        Investor Charge Offs                        4.71%


        Base Rate                                   8.60%


        Over 35 Day Delinquency                     4.85%


        Seller's Interest                           16.09%


        Total Payment Rate                          13.52%


        Total Principal Balance                     $ 34,907,536,752.65


        Investor Participation Amount               $ 500,000,000.00


        Seller Participation Amount                 $ 5,616,202,234.16