Exhibit 99.23

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
JULY, 1997



Expected B Maturity 12/15/06


Blended Coupon 5.9928%



Excess Protection Level
3 Month Average 4.55%
July, 1997 4.47%
June, 1997 4.78%
May, 1997 4.39%


Cash Yield 17.58%


Investor Charge Offs 4.92%


Base Rate 8.19%


Over 35 Day Delinquency 4.47%


Seller's Interest 18.18%


Total Payment Rate 14.22%


Total Principal Balance $ 30,179,392,749.44


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 5,486,155,230.95