It was founded in 1982 by a group of Maryland National Bank executives headed by Charles M. Cawley. Until his recent death, Cleveland Browns owner Al Lerner served as Chairman of the Board. Its first branch was in Ogletown. When the company relocated to Delaware, its first office was housed in a converted A&P supermarket.
The company, which has operations throughout the United States, Canada, Ireland, Spain, and the United Kingdom, also provides retail deposit, consumer loans, and insurance products.
Employing more than 28,000 people around the world, MBNA currently owns more than $100,000,000,000 in outstanding consumer credit loans and consistently outperforms Wall Street expectations.
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MBNA also stands for Monument Builders of North America