MBNA Corporation is the bank holding company of MBNA America Bank, N.A. (the Bank), a national bank, organized in January 1991, as the successor to a national bank, formed in 1982, and the Company's principal subsidiary. The Bank has two wholly owned foreign bank subsidiaries, MBNA Europe Bank Limited, formed in 1993, with its headquarters in the United Kingdom, and MBNA Canada Bank, which was formed in 1997. Through the Bank, MBNA is an independent credit card lender and is an issuer of endorsed credit cards, marketed primarily to members of associations and customers of financial institutions and other organizations.
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