Exhibit 99.22

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
SEPTEMBER, 1998



Expected B Maturity 12/15/06


Blended Coupon 5.8747%



Excess Protection Level
3 Month Average 5.29%
September, 1998 4.33%
August, 1998 6.28%
July, 1998 5.24%


Cash Yield 17.38%


Investor Charge Offs 5.18%


Base Rate 7.87%


Over 35 Day Delinquency 5.04%


Seller's Interest 13.10%


Total Payment Rate 13.10%


Total Principal Balance $ 39,849,511,082.92


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 5,219,716,564.43