Exhibit 99.4

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-D

KEY PERFORMANCE FACTORS
July 31, 1997



Expected B Maturity 11/17/97


Blended Coupon 5.91891%



Excess Protection Level
3 Month Average 4.59%
July, 1997 4.49%
June, 1997 4.82%
May, 1997 4.47%


Cash Yield 17.53%


Investor Charge Offs 4.92%


Base Rate 8.12%


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 $ 1,000,000,000.00


Seller Participation Amount $ 5,486,155,230.95