The director of corporate enforcement has said it is likely to be some time before the Director of Public Prosecutions can determine whether any charges will be brought as a result of investigations into Anglo Irish Bank.

Paul Appleby said this was due to the volume of documentation involved. In his review of 2010, Mr Appleby said 'substantial progress' was made in the investigations into Anglo last year.

He said a large amount of documentation had been sent to the DPP on four aspects of the Anglo probe. Mr Appleby said further material was being prepared and would be sent to the DPP shortly. The documents sent include almost 650 pages of reports and almost 3,000 pages of supporting documentation.

Mr Appleby said his office had so far sent one file and three reports on Anglo to the DPP. There was one 400-page file relating to the provision by Anglo in 2008 of a loan to one of its directors.

There were also three reports sent. One, on the non-disclosure of certain directors' loans in the bank's financial statements over a number of years, was 116 pages long and was supported by 1,200 pages of additional documents.

A second report on loans given by Anglo to a number of people in 2008 to buy shares in the bank was 28 pages long, with 400 pages of additional documents. The third report related to possible false of misleading information in certain public statements made by Anglo in 2008. This included a 98-page report with around 1,300 pages of supporting documents.

Mr Appleby said the Anglo investigation absorbed more of his office's staff than any other issue last year.

Apart from the Anglo Irish investigations, the ODCE had to deal with a large increase in insolvent company reports as the economy remained weak. The number of liquidations being reviewed by the office has trebled since 2008.

Last month, Minister for Justice Dermot Ahern said two major files were being sent by the Gardaí to the Director of Public Prosecutions arising from investigations into some financial institutions and financial transactions.

He said the first file related to back-to-back transactions involving a sum of €7.2 billion, Anglo Irish Bank and Irish Life & Permanent. He said there were four main suspects involved in the investigation, which relates to market manipulation and deception.

The second file related to the so-called Maple 10 and was six volumes long. This investigation was related to the loan of €450m to a secret group of ten investors to assist in the purchase of a 10% shareholding in Anglo Irish Bank originally built up by businessman Sean Quinn.