Exhibit 99.12

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-H

KEY PERFORMANCE FACTORS
MARCH, 2001



Expected B Maturity 09/17/01


Blended Coupon 5.5149%



Excess Protection Level
3 Month Average 7.30%
March, 2001 8.00%
February, 2001 7.69%
January, 2001 6.21%


Cash Yield 20.69%


Investor Charge Offs 4.83%


Base Rate 7.85%


Over 30 Day Delinquency 4.90%


Seller's Interest 7.37%


Total Payment Rate 14.60%


Total Principal Balance $ 56,622,749,044.91


Investor Participation Amount $ 1,200,000,000.00


Seller Participation Amount $ 4,172,058,483.42