Exhibit 99.22

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
AUGUST, 1998



Expected B Maturity 12/15/06


Blended Coupon 5.8759%



Excess Protection Level
3 Month Average 5.40%
August, 1998 6.28%
July, 1998 5.24%
June, 1998 4.68%


Cash Yield 19.08%


Investor Charge Offs 5.09%


Base Rate 7.71%


Over 35 Day Delinquency 5.00%


Seller's Interest 11.64%


Total Payment Rate 14.21%


Total Principal Balance $ 37,775,682,964.86


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 4,395,888,446.37