Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
June 30, 1997



Expected B Maturity 11/17/97


Blended Coupon 5.94865%



Excess Protection Level
3 Month Average 4.34%
June, 1997 4.82%
May, 1997 4.47%
April, 1997 3.75%


Cash Yield 17.16%


Investor Charge Offs 4.60%


Base Rate 7.75%


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 $ 1,000,000,000.00


Seller Participation Amount $ 2,741,483,811.88