NEWARK, Del. - MBNA Corp. said it would open a subsidiary, MBNA International Bank, to issue credit cards in Great Britain.

MBNA, the nation's third-largest credit card issuer, with nearly $10.6 billion of managed loans, said the unit would open next month in Chester, England, and have a business-development office in London. MBNA has obtained approvals from both the Bank of England and Federal Reserve Board.

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