MBNA Corp.

BY THE NUMBERS

January 22, 1992

MBNA Corp. said its fourth-quarter income rose 16 percent, as loan delinquencies and defaults on the company's credit card portfolio stayed below industry averages.

MBNA said it earned $44.9 million in the fourth quarter, or 90 cents a share, compared with earnings of 38.6 million, or 78 cents a share, in the year-earlier period.

For the year, MBNA earned $149.2 million, or $3 a share.

MBNA also said it is raising its quarterly cash dividend 10 percent to 44 cents a share. The dividend is payable April 1 to stockholders of record as of March 25, the company said. The Delaware-based banking company was part of Baltimore-based MNC Financial Inc. until last year, and it is one of the nation's 10 largest credit card issuers.

But Wall Street was apparently disappointed with the earnings gain, pushing MBNA stock down $1.125 a share to close at $40.

Three months ending 12/31/91

. . . . .Income. . . . . . .Share

'91. . . . .$44,851,000 . . . .$0.90

'90. . . . .$38,604,000 . . . .$0.78

% change . . . . . 16.2 . . . . 15.4

. . . . . .Assets. . . . . . Deposits

'91. . . . . .$6,009,028,000.. $5,094,011,000

'90. . . . . .$4,579,514,000. . $4,202,159,000

% change . . . . . . . .31.2. . . . . . . 21.2

12 months ending 12/31/91

. . . . . . Income. . . . . Share

'91. . . . . . $149,213,000. . $3.00

'90. . . . . . $128,998,000. . $2.61

% change . . . . . . . 15.7. . .14.9

Loan portfolio

Three months ending 12/31/91

. . . . Loans outstanding. . . Net charge-offs

'91. . . . $2,886,405,000 . . . . Not announced

'90. . . . $2,672,733,000 . . . . Not announced

% change . . . . . . .8.0 . . . . N/A

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