ANNUAL CERTIFICATEHOLDERS' STATEMENT
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PROVIDIAN MASTER TRUST
SERIES 1993-2
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Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
1993-2 Supplement dated as of June 1, 1993 (as amended and supplemented, the
"Series Supplement"), among Providian National Bank ("PNB"), formerly known as
First Deposit National Bank, Seller and Servicer, and Bankers Trust Company,
Trustee, Providian National Bank as Servicer is required to prepare certain
information each year regarding current distributions to Investor
Certificateholders and the performance of the Providian Master Trust (the
"Trust") during the previous year. The information which is required to be
prepared for the Series 1993-2 Certificates with respect to the year ended
December 31, 1997, and with respect to the performance of the Trust during 1997
is set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Investor Certificate (a "Certificate").
Certain other information is presented based on the aggregate amounts for the
Trust as a whole. Capitalized terms used in this Certificate have their
respective meanings set forth in the Agreement or Series Supplement, as
applicable.
A) Information Regarding the 1997 Distribution for the Series 1993-2
Certificates (stated on the basis of $1,000 original certificate principal
amount)
(1) The total amount distributed to Series 1993-2 Certificateholders per
$1,000 original certificate principal amount................$57.500000
(2) The amount set forth in A (1) above distributed to Series 1993-2
Certificateholders with respect to interest per $1,000 original
certificate principal amount................................$57.500000
(3) The amount set forth in A (1) above distributed to Series 1993-2
Certificateholders with respect to principal per $1,000 original
certificate principal amount.................................$0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series 1993-2
Certificates
(a) The aggregate amount of Finance Charge Receivables collected
during 1997.....................................$1,182,331,275.78
(b) The aggregate amount of Principal Receivables collected during
1997............................................$4,858,934,259.32
(c) The weighted average Floating Allocation Percentage with respect
to the Series 1993-2 Certificates for 1997..............7.254433%
(d) The weighted average Principal Allocation Percentage with respect
to the Series 1993-2 Certificates for 1997.............9.093138%
(e) The Finance Charge Receivables, collected and allocated to the
Series 1993-2 Certificates for 1997................$85,771,435.71
(f) The Principal Receivables collected and allocated to the Series
1993-2 Certificates for 1997......................$441,829,593.31
(2) Available Finance Charge Collections for Series 1993-2 for 1997
(a) The Finance Charge Receivables collected and allocated to the
Series 1993-2 Certificates.........................$85,771,435.71
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1993-2
Certificates........................................$1,074,954.62
(c) Additional Finance Charges from other Series allocated to the
Series 1993-2 Certificates..................................$0.00
(d) Principal Funding Account Investment Proceeds.......$7,151,285.45
(e) Reserve Account withdrawals.................................$0.00
(f) Available Finance Charge Collections for Series 1993-2 (total of
(a), (b), (c), (d) and (e) above)..................$93,997,675.78
(3) Available Principal Collections for Series 1993-2 for 1997
(a) The Principal Receivables collected and allocated to the Series
1993-2 Certificates...............................$441,829,593.31
(b) Shared Principal Collections from other Series allocated to the
Series 1993-2 Certificates..................................$0.00
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series Supplement......$32,563,818.56
(d) Available Principal Collections for Series 1993-2 (total of (a),
(b) and (c) above)................................$474,393,411.87
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which were
delinquent as of the close of business on the last day of 1997
(a) 31-60 days $90,462,505
(b) 61-90 days 58,423,393
(c) 91 or more days 106,751,927
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(d) Total Delinquencies $255,637,825
(5) Defaulted Amount
(a) The aggregate amount of Defaulted Receivables with respect to the
Trust for 1997....................................$496,663,565.73
(b) The aggregate amount of Recoveries of Defaulted Receivables
processed during 1997..............................$49,915,967.82
(c) The Defaulted Amount for 1997 [Defaulted Receivables minus
Recoveries].......................................$446,747,597.91
(d) The Defaulted Amount for 1997 allocable to the Series 1993-2
Certificates (the "Investor Default Amount").......$32,563,818.56
(6) Investor Charge-Offs
(a) The amount withdrawn, if any, under the Series Enhancement during
1997........................................................$0.00
(b) The excess of the Investor Default Amount over the sum of (i) the
Available Finance Charge Collections applied to such Investor
Default Amount and (ii) the amount of the withdrawal, if any,
under the Series Enhancement applied to such Investor Default
Amount (an "Investor Charge-Off") for 1997..................$0.00
(c) The amount of the Investor Charge-Off set forth in item 6(b)
above, per $1,000 original certificate principal amount (which
will have the effect of reducing, pro rata, the amount of each
Series 1993-2 Certificateholder's investment) for 1997..$0.000000
(d) The total amount reimbursed to the Trust for such last
Distribution Date of 1997 in respect of Investor Charge-Offs for
prior Distribution Dates....................................$0.00
(e) The amount set forth in item 6(d) above per $1,000 original
certificate principal amount (which will have the effect of
increasing, pro rata, the amount of each Series 1993-2
Certificateholder's investment) for 1997................$0.000000
(f) The amount, if any, by which the outstanding principal balance of
the Series 1993-2 Certificates exceeds the Series 1993-2 Invested
Amount as of the last Distribution Date of 1997, after giving
effect to all deposits, withdrawals and distributions on such
Distribution Date...........................................$0.00
(7) Investor Monthly Servicing Fee
The amount of the Series 1993-2 Monthly Servicing Fee payable to the
Servicer during 1997.....................................$6,562,500.00
(8) Available Series Enhancement Amount
(a) The Available Cash Collateral Amount for the Series 1993-2
Certificateholders as of the close of business on the last
Distribution Date of 1997 after giving effect to all deposits,
withdrawals and distributions on such Distribution Date and the
related Transfer Date..............................$46,666,666.67
(b) The percentage of the Available Cash Collateral Amount to the
Invested Amount of the Series 1993-2 Certificates as of the close
of business on the last Distribution Date of 1997, after giving
effect to all deposits, withdrawals and distributions on such
Distribution Date and the related Transfer Date............20.00%
(c) The amount of the Enhancement Invested Amount, if any, as of the
close of business on the last Distribution Date of 1997, after
giving effect to all deposits, withdrawals and distributions on
such Distribution Date and the related Transfer Date........$0.00
(9) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account as of the
close of business on the last Distribution Date of 1997, after
giving effect to all deposits, withdrawals and distributions on
such Distribution Date and the related Transfer
Date..............................................$299,999,999.98
(b) Deposits in the Principal Funding Account commenced on the
Distribution Date occurring in April, 1997. (The initial funding
date for the Principal Funding Account may be modified in certain
circumstances in accordance with the terms of the Series
Supplement.)
(10) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for the last Distribution
Date of 1997, after giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the related Transfer
Date.............................................................$0.00
(11) Reserve Account
(a) The amount on deposit in the Reserve Account as of the close of
business on the last Distribution Date of 1997, after giving
effect to all deposits, withdrawals and distributions on such
Distribution Date and the related Transfer Date.....$5,000,000.00
(b) The Required Reserve Account Amount is currently calculated to
be..................................................$5,000,000.00
(c) Deposits in the Reserve Account commenced on the Distribution
Date occurring in January, 1997. (The initial funding date for
the Reserve Account may be modified in certain circumstances in
accordance with the terms of the Series Supplement.)
C) Invested Amount
(1) The Invested Amount of the Series 1993-2 Certificates on the date of
issuance (the "Initial Invested Amount")...............$500,000,000.00
(2) The Invested Amount of the Series 1993-2 Certificates on the last
Distribution Date of 1997, after giving effect to all deposits,
withdrawals and distributions on such Distribution
Date...................................................$500,000,000.00
(3) The Pool Factor for the last Distribution Date of 1997 (which
represents the ratio of the Invested Amount of the Series 1993-2
Certificates as of such Distribution Date, after giving effect to any
adjustment in the Invested Amount of the 1993-2 Certificates on such
date, to the Initial Invested Amount of the Series 1993-2
Certificates). The amount of a Certificateholder's pro rata share of
the Invested Amount can be determined by multiplying the original
denomination of the Certificateholder's Certificate by the Pool
Factor........................................................1.000000
D) Receivables Balances
(1) The aggregate amount of Principal Receivables in the Trust at the
close of business on the last day of 1997...............$5,801,095,181
(2) The aggregate amount of Finance Charge Receivables in the Trust at the
close of business on the last day of 1997.................$119,933,174
E) Annualized Percentages
(1) The average Gross Yield for 1997 (sum of monthly Gross Yield divided
by 12)..........................................................18.80%
(2) The average Net Loss Rate for 1997 (sum of the monthly Net Loss Rates
divided by 12)...................................................6.51%
(3) The average Portfolio Yield for 1997 (the average Gross Yield minus
the average Net Loss Rate for the Series 1993-2 Certificates for
1997)...........................................................12.29%
(4) The average Base Rate for 1997 (sum of the monthly Base Rates divided
by 12)...........................................................7.06%
(5) The average Net Spread (the average Portfolio Yield minus the average
Base Rate for the Series 1993-2 Certificates for
1997.............................................................5.23%
(6) The average Monthly Payment Rate (sum of monthly Payment Rates divided
by 12)...........................................................8.99%
F) Series 1993-2 Information for the Last Three Distribution Dates in 1997
1) Gross Yield
a) 12/15/97 13.02%
b) 11/17/97 16.86%
c) 10/15/97 18.23%
2) Net Loss Rate
a) 12/15/97 4.04%
b) 11/17/97 5.15%
c) 10/15/97 5.08%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 12/15/97 2.41%
b) 11/17/97 5.03%
c) 10/15/97 6.35%
Three Month Average 4.60%
4) Monthly Payment Rate
a) 12/15/97 8.29%
b) 11/17/97 9.61%
c) 10/15/97 9.53%
PROVIDIAN NATIONAL BANK,
Servicer
By: /s/ Daniel Sanford
_____________________________
Name: Daniel Sanford
Title: Vice President and Controller