ANNUAL CERTIFICATEHOLDERS' STATEMENT
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PROVIDIAN MASTER TRUST
SERIES 1995-2
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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
1995-2 Supplement dated as of June 1, 1995 (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, PNB as Servicer is required to prepare certain information each year
regarding current distributions to Senior Certificateholders and the Collateral
Interest Holder 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 1995-2 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. 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 1995-2 Senior
Certificates (stated on the basis of $1,000 original certificate principal
amount)
(1) The total amount distributed to Senior Certificateholders per $1,000
original certificate principal amount.......................$60.500000
(2) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to interest per $1,000 original
certificate principal amount................................$60.500000
(3) The amount set forth in A(1) above distributed to Senior
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 1995-2
Certificates
(a) The aggregate amount of Finance Charge Receivables collected
during 1997.....................................$1,159,459,303.78
(b) The aggregate amount of Interchange collected and allocated to
the Trust during 1997..............................$22,871,972.00
(c) The aggregate amount of Principal Receivables collected during
1997............................................$4,858,934,259.32
(d) The weighted average Floating Allocation Percentage with respect
to the Series 1995-2 Certificates for 1997.............10.016706%
(e) The weighted average Principal Allocation Percentage with respect
to the Series 1995-2 Certificates for 1997.............10.002452%
(f) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1995-2 Certificates for
1997..............................................$118,430,649.38
(g) The Principal Receivables collected and allocated to the Series
1995-2 Certificates for 1997......................$486,012,552.61
(2) Available Finance Charge Collections and Reallocated Principal
Collections for Series 1995-2 for 1997
(a) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1995-2 Certificate........$118,430,649.38
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1995-2
Certificates..........................................$603,548.52
(c) Principal Funding Account Investment Proceeds...............$0.00
(d) Reserve Account withdrawals.................................$0.00
(e) Additional Finance Charges from other Series allocated to the
Series 1995-2 Certificates..........................$1,923,072.62
(f) Payments, if any, on deposit as of the Determination Date
received from any Interest Rate Protection Agreements.......$0.00
(g) Reallocated Principal Collections...........................$0.00
(h) Total Available Finance Charge Collections and Reallocated
Principal Collections for Series 1995-2 (total of (a), (b), (c),
(d), (e), (f) and (g) above)......................$120,957,270.52
(3) Available Principal Collections for Series 1995-2 for 1997
(a) The Principal Receivables collected and allocated to the Series
1995-2 Certificates...............................$486,012,552.61
(b) Shared Principal Collections from other Series allocated to the
Series 1995-2 Certificates.........................$42,881,137.01
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series Supplement......$44,708,389.79
(d) Reallocated Principal Collections...........................$0.00
(e) Available Principal Collections for Series 1995-2 (total of (a),
(b) and (c) minus (d) above)......................$573,602,079.41
(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 1995-2
Certificates (the "Series 1995-2 Defaulted
Amount")...........................................$44,708,389.78
(e) The Senior Defaulted Amount for 1997...............$36,213,795.73
(6) Senior Charge-Offs
(a) The excess, if any, of the Senior Defaulted Amount over the sum
of (i) Available Finance Charge Collections applied to such
Senior Defaulted Amount, (ii) Reallocated Principal Collections
and (iii) the amount by which the Collateral Invested Amount has
been reduced in respect of such Senior Defaulted Amount (a
"Senior Charge-Off") for 1997...............................$0.00
(b) The amount of the Senior Charge-Off set forth in item 6(a) above,
per $1,000 original certificate principal amount (which will have
the effect of reducing, pro rata, the amount of each Senior
Certificateholder's investment) for 1997................$0.000000
(c) The total amount reimbursed in respect of Senior Charge-Offs for
1997........................................................$0.00
(d) The amount set forth in item 6(c) above per $1,000 original
certificate principal amount (which will have the effect of
increasing, pro rata, the amount of each Senior
Certificateholder's investment) for 1997................$0.000000
(e) The amount, if any, by which the outstanding principal balance of
the Senior Certificates exceeds the Senior Invested Amount as of
the last Distribution Date of 1997, after giving effect to all
deposits, withdrawals and distributions on such Distribution Date
of 1997.....................................................$0.00
(7) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral Defaulted Amount over
Available Finance Charge Collections applied to such Collateral
Defaulted Amount on the last Distribution Date of
1997........................................................$0.00
(b) The amount by which the Collateral Invested Amount has been
reduced on the last Distribution Date of 1997 in respect of
Reallocated Principal Collections...........................$0.00
(c) The amount by which the Collateral Invested Amount has been
reduced on the last Distribution Date of 1997 in respect of the
unpaid Required Amount......................................$0.00
(d) The total amount by which the Collateral Invested Amount has been
reduced on the last Distribution Date of 1997 as set forth in
items 7(a), (b) and (c).....................................$0.00
(e) The total amount reimbursed on the last Distribution Date of 1997
in respect of reductions in the Collateral Invested Amount on
prior Distribution Dates....................................$0.00
(f) The amount, if any, by which the outstanding principal balance of
the Collateral Interest exceeds the Collateral Invested Amount as
of the last Distribution Date of 1997, after giving effect to all
deposits, withdrawals and distributions on the last Distribution
Date of 1997................................................$0.00
(8) Investor Monthly Servicing Fee
The amount of the Series 1995-2 Monthly Servicing Fee payable to the
Servicer during 1997.....................................$9,625,000.00
(9) Senior Monthly Interest
(a) Senior Monthly Interest payable during 1997.........$26,952,750.00
(10) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account on the
last Distribution Date of 1997, after giving effect to all
deposits, withdrawals and distributions on such Distribution
Date........................................................$0.00
(b) Deposits to the Principal Funding Account are currently scheduled
to commence on the Distribution Date occurring in January, 1998.
(The initial funding date for the Principal Funding Account may
be modified in certain circumstances in accordance with the terms
of the Series Supplement.)
(11) 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..........................$0.00
(12) Reserve Account
(a) The amount on deposit in the Reserve Account 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...............................$1,670,625.00
(b) The Required Reserve Account Amount (which may vary in accordance
with the terms of the Series Supplement) is currently calculated
to be...............................................$1,670,625.00
(c) Deposits to the Reserve Account commenced on the Distribution
Date occurring in December, 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) Senior Invested Amount
(1) The Senior Invested Amount on the date of issuance (the "Senior
Initial Invested Amount")..............................$445,500,000.00
(2) The Senior Invested Amount on the last Distribution Date in 1997,
after giving effect to all deposits, withdrawals and distributions on
such Distribution Date.................................$445,500,000.00
(3) The Pool Factor for the last Distribution Date of 1997 (which
represents the ratio of the Senior Invested Amount as of such
Distribution Date, after giving effect to any adjustment in the Senior
Invested Amount on such Distribution Date, to the Senior Initial
Invested Amount). The amount of a Senior Certificateholder's pro rate
share of the Senior Invested Amount can be determined by multiplying
the original denomination of the Senior Certificateholder's
Certificate by the Pool Factor................................1.000000
D) Collateral Invested Amount
(1) The Collateral Invested Amount on the date of
issuance...............................................$104,500,000.00
(2) The Collateral Invested Amount on the last Distribution Date of 1997,
after giving effect to all deposits, withdrawals and distributions on
such Distribution Date.................................$104,500,000.00
(3) The Collateral Invested Amount as a percentage of the sum of the
Collateral Invested Amount and the Senior Invested Amount on such
Distribution Date...............................................19.00%
E) 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
F) Annualized Percentages
(1) The average Gross Yield for 1997 (sum of the monthly Gross Yields
divided by 12)..................................................21.99%
(2) The average Net Loss Rate for 1997 (sum of monthly Net Loss Rates
divided by 12)...................................................8.13%
(3) The average Portfolio Yield for 1997 (the average Gross Yield minus
the average Net Loss Rate for 1997).............................13.86%
(4) The average Base Rate for 1997 (sum of monthly Base Rates divided by
12)..............................................................8.07%
(5) The average Net Spread for 1997 (the average Portfolio Yield minus the
average Base Rate for 1997.......................................5.79%
(6) The average Monthly Payment Rate for 1997 (sum of monthly Payment
Rates divided by 12).............................................8.99%
G) Series 1995-2 Information for the Last Three Distribution Dates in 1997
1) Gross Yield
a) 12/15/97 19.20%
b) 11/17/97 22.88%
c) 10/15/97 24.01%
2) Net Loss Rate
a) 12/15/97 7.57%
b) 11/17/97 8.58%
c) 10/15/97 7.62%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 12/15/97 3.65%
b) 11/17/97 6.14%
c) 10/15/97 8.34%
Three Month Average 6.04%
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
/s/ Daniel Sanford
By: _________________________________
Name: Daniel Sanford
Title: Vice President and Controller