Exhibit 99.21

MBNA MASTER CREDIT CARD TRUST II SERIES 1996-K

KEY PERFORMANCE FACTORS
January 31, 1997



Expected B Maturity 11/17/03


Blended Coupon 5.6658%



Excess Protection Level
3 Month Average 4.12%
January, 1997 3.90%
December, 1996 5.51%
November, 1996 2.97%


Cash Yield 17.09%


Investor Charge Offs 4.81%


Base Rate 8.38%


Over 35 Day Delinquency 4.60%


Seller's Interest 13.97%


Total Payment Rate 12.21%


Total Principal Balance $23,234,782,634.76


Investor Participation Amount $1,000,000,000.00


Seller Participation Amount $3,245,155,116.27