Exhibit 99.20

MBNA MASTER CREDIT CARD TRUST II

SERIES 1997-K

KEY PERFORMANCE FACTORS
May 31, 2001



Expected B Maturity 11/15/05


Blended Coupon 4.3013%


Excess Protection Level
3 Month Average 7.83%
May, 2001 7.77%
April, 2001 7.58%
March, 2001 8.16%


Cash Yield 19.67%


Investor Charge Offs 5.45%


Base Rate 6.44%


Over 30 Day Delinquency 4.84%


Seller's Interest 8.52%


Total Payment Rate 14.20%


Total Principal Balance $58,203,705,030.43


Investor Participation Amount $750,000,000.00


Seller Participation Amount $4,958,014,468.94