Exhibit 99.23 
 
MBNA MASTER CREDIT CARD TRUST II  
 
SERIES 1996-M 
 
KEY PERFORMANCE FACTORS 
SEPTEMBER, 1997 
 
 
 
        Expected B Maturity                                       12/15/06 
 
 
        Blended Coupon                                          5.9327% 
 
 
 
        Excess Protection Level 
          3 Month Average  4.57% 
          September, 1997  4.72% 
          August, 1997  4.52% 
          July, 1997  4.47% 
 
 
        Cash Yield                                  17.48% 
 
 
        Investor Charge Offs                        4.80% 
 
 
        Base Rate                                   7.96% 
 
 
        Over 35 Day Delinquency                     4.84% 
 
 
        Seller's Interest                           12.31% 
 
 
        Total Payment Rate                          12.46% 
 
 
        Total Principal Balance                     $ 30,549,822,447.26 
 
 
        Investor Participation Amount               $ 500,000,000.00 
 
 
        Seller Participation Amount                 $ 3,759,687,928.77