Exhibit 99.23

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
JUNE, 1997



Expected B Maturity 12/15/06


Blended Coupon 5.9920%



Excess Protection Level
3 Month Average 4.40%
June, 1997 4.78%
May, 1997 4.39%
April, 1997 4.02%


Cash Yield 17.19%


Investor Charge Offs 4.60%


Base Rate 7.82%


Over 35 Day Delinquency 4.57%


Seller's Interest 10.08%


Total Payment Rate 12.14%


Total Principal Balance $ 27,184,721,330.37


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 2,741,483,811.88