Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
December 31, 1996



Expected B Maturity 11/17/97


Blended Coupon 5.73620%



Excess Protection Level
3 Month Average 5.36%
December, 1996 5.59%
November, 1996 5.33%
October, 1996 5.16%


Cash Yield 17.30%


Investor Charge Offs 3.97%


Base Rate 7.74%


Over 35 Day Delinquency 4.52%


Seller's Interest 17.12%


Total Payment Rate 11.85%


Total Principal Balance $ 23,372,253,332.68


Investor Participation Amount $ 1,000,000,000.00


Seller Participation Amount $ 4,000,325,814.19