What Does MBNA Actually Stand For?

What Does MBNA Actually Stand For?

This was the question posed to MBNA telemarketers by Quebec author Ross Murray when he was accosted by them not so long ago.

Following Ross’ recent appearance at a Quebec City English Bookstore event held at Quebec High School, we asked if anyone out there in internet land knew the answer.

We have been literally overwhelmed with responses.

Pauline Stevens and Lori Godon have come up with the following:

Lori:

Hi Life in Quebec,

The letters don’t actually stand for anything in particular. Although the company does not have an official explanation on its Web site, it is true that MBNA once stood for Maryland Bank, National Association. The former MBNA was founded by Charles Michael Cawley, who started the company in a grocery store in Maryland in 1982. It eventually grew and expanded, and it is now based in Wilmington, DE – no longer in Maryland – and the corporate entity officially refers to itself as MBNA, merely by letters and not the original meaning behind those letters. So, the official company name is technically an acronym without meaning that originated from Maryland Bank National Association. Some online resources also refer to the originating entity as Maryland Bank North America.

Lori

Pauline:

Hi!

MBNA originally stood for “Maryland Bank, National Association” but since that bank is no longer in Maryland, basically, it is simply an arconym for the bank, called MBNA Corporation.

Now just in case someone else has already answered this question, I’ll try to be a bit more informative…. “According to current figures, Americans are indebted to MBNA Corporation by over $100 billion, making it second only to Citigroup as far as issuers of credit cards.” Frightening!

They are also a private employer – the largest one in Delaware, with approximately 10,000 employees!

Their NYC stock exchange – worth 30 BILLION dollars.

MBNA doesn’t only deal credit cards. They are involved in loans, money markets for private needs and business needs, CDs, etc.

Have a good day!
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LifeinQuebec.com :
Thanks for responding – we appreciate the feedback.
We’ll let Mr Murray know as well. Hopefully now he’ll be able to sleep at night.
However, highly unlikely due to living with a wife, four kids and far too many cats and dogs to mention in this small space here.

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