Exhibit 99.20 MBNA MASTER CREDIT CARD TRUST II SERIES 1996-K KEY PERFORMANCE FACTORS July 31, 1999 Expected B Maturity 11/17/03 Blended Coupon 5.3618% Excess Protection Level 3 Month Average 6.29% July, 1999 6.04% June, 1999 5.20% May, 1999 7.63% Cash Yield 18.70% Investor Charge Offs 4.97% Base Rate 7.69% Over 30 Day Delinquency 4.84% Seller's Interest 9.75% Total Payment Rate 14.54% Total Principal Balance $45,698,903,036.29 Investor Participation Amount $1,000,000,000.00 Seller Participation Amount $4,456,383,517.80