Exhibit 99.21

MBNA MASTER CREDIT CARD TRUST II SERIES 1996-K

KEY PERFORMANCE FACTORS
May 31, 1997



Expected B Maturity 11/17/03


Blended Coupon 5.8692%



Excess Protection Level
3 Month Average 4.74%
May, 1997 4.52%
April, 1997 3.81%
March, 1997 5.87%


Cash Yield 17.28%


Investor Charge Offs 4.53%


Base Rate 8.23%


Over 35 Day Delinquency 4.38%


Seller's Interest 15.43%


Total Payment Rate 12.75%


Total Principal Balance $27,132,480,390.99


Investor Participation Amount $1,000,000,000.00


Seller Participation Amount $4,186,442,872.50