Exhibit 99.23 
 
MBNA MASTER CREDIT CARD TRUST II  
 
SERIES 1996-M 
 
KEY PERFORMANCE FACTORS 
FEBRUARY, 1997 
 
 
 
        Expected B Maturity                                       12/15/06 
 
 
        Blended Coupon                                          5.6872% 
 
 
 
        Excess Protection Level 
          3 Month Average  4.35% 
          February, 1997  5.34% 
          January, 1997  3.35% 
          December, 1996  N/A 
 
 
        Cash Yield                                  16.84% 
 
 
        Investor Charge Offs                        4.37% 
 
 
        Base Rate                                   7.13% 
 
 
        Over 35 Day Delinquency                     4.65% 
 
 
        Seller's Interest                           16.44% 
 
 
        Total Payment Rate                          12.64% 
 
 
        Total Principal Balance                     $ 25,119,592,718.23 
 
 
        Investor Participation Amount               $ 500,000,000.00 
 
 
        Seller Participation Amount                 $ 4,129,965,199.74