Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
November 30, 1996



Expected B Maturity 11/17/97


Blended Coupon 5.69175%



Excess Protection Level
3 Month Average 5.28%
November, 1996 5.33%
October, 1996 5.16%
September, 1996 5.35%


Cash Yield 17.08%


Investor Charge Offs 3.86%


Base Rate 7.88%


Over 35 Day Delinquency 4.38%


Seller's Interest 15.65%


Total Payment Rate 11.72%


Total Principal Balance $ 22,372,660,639.66


Investor Participation Amount $ 1,000,000,000.00


Seller Participation Amount $ 3,500,733,121.17