Exhibit 99.21

MBNA MASTER CREDIT CARD TRUST II

SERIES 1997-M

KEY PERFORMANCE FACTORS
May 31, 2001



Expected B Maturity 10/15/02


Blended Coupon 4.8637%


Excess Protection Level
3 Month Average 7.59%
May, 2001 7.20%
April, 2001 7.85%
March, 2001 7.72%


Cash Yield 19.68%


Investor Charge Offs 5.45%


Base Rate 7.03%


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