Exhibit 99.22

MBNA MASTER CREDIT CARD TRUST II SERIES 1996-K

KEY PERFORMANCE FACTORS
June 30, 1998



Expected B Maturity 11/17/03


Blended Coupon 5.8380%



Excess Protection Level
3 Month Average 5.16%
June, 1998 4.69%
May, 1998 4.93%
April, 1998 5.86%


Cash Yield 17.67%


Investor Charge Offs 5.10%


Base Rate 7.87%


Over 35 Day Delinquency 5.06%


Seller's Interest 12.61%


Total Payment Rate 13.35%


Total Principal Balance $35,974,950,178.51


Investor Participation Amount $1,000,000,000.00


Seller Participation Amount $4,536,555,660.02