Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
May 31, 1997



Expected B Maturity 11/17/97


Blended Coupon 5.88913%



Excess Protection Level
3 Month Average 4.63%
May, 1997 4.47%
April, 1997 3.75%
March, 1997 5.66%


Cash Yield 17.28%


Investor Charge Offs 4.53%


Base Rate 8.28%


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