Exhibit 99.23

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
AUGUST, 1997



Expected B Maturity 12/15/06


Blended Coupon 5.9302%



Excess Protection Level
3 Month Average 4.59%
August, 1997 4.52%
July, 1997 4.47%
June, 1997 4.78%


Cash Yield 17.46%


Investor Charge Offs 4.84%


Base Rate 8.10%


Over 35 Day Delinquency 4.66%


Seller's Interest 14.91%


Total Payment Rate 12.37%


Total Principal Balance $ 30,603,901,306.35


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 4,563,766,787.86