Exhibit 99.23

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
MARCH, 1997



Expected B Maturity 12/15/06


Blended Coupon 5.6908%



Excess Protection Level
3 Month Average 4.84%
March, 1997 5.83%
February, 1997 5.34%
January, 1997 3.35%


Cash Yield 17.86%


Investor Charge Offs 4.50%


Base Rate 7.53%


Over 35 Day Delinquency 4.55%


Seller's Interest 12.97%


Total Payment Rate 12.55%


Total Principal Balance $ 24,979,151,243.99


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 3,239,523,725.50