Exhibit 99.20

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
SEPTEMBER, 1999



Expected B Maturity 12/15/06


Blended Coupon 5.6389%



Excess Protection Level
3 Month Average 5.93%
September, 1999 5.79%
August, 1999 5.77%
July, 1999 6.25%


Cash Yield 18.03%


Investor Charge Offs 4.60%


Base Rate 7.64%


Over 30 Day Delinquency 4.90%


Seller's Interest 6.99%


Total Payment Rate 14.16%


Total Principal Balance $ 45,780,732,257.76


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 3,198,912,739.27