Exhibit 99.23
MBNA MASTER CREDIT CARD TRUST II
SERIES 1997-M
KEY PERFORMANCE FACTORS
December 31, 2000
Expected B Maturity 10/15/02
Blended Coupon 6.9429%
Excess Protection Level
3 Month Average 4.29%
December, 2000 0.36%
November, 2000 6.38%
October, 2000 6.14%
Cash Yield 19.86%
Investor Charge Offs 10.15%
Base Rate 9.35%
Over 30 Day Delinquency 4.72%
Seller's Interest 10.47%
Total Payment Rate 13.35%
Total Principal Balance $57,190,978,436.47
Investor Participation Amount $750,000,000.00
Seller Participation Amount $5,990,287,874.98