DUBLIN ( TheStreet) -- The Irish government will recapitalize Allied Irish Banks ( AIB) with an injection of €3.7 billion ($4.85 billion). Allied Irish banks is the fourth bank under state control. It will be 92.8% owned by the Irish government after the injection of the funds. It's the second bailout of the bank. Allied Irish became 19% state-owned after receiving €3.5 billion in state funds last year. The Irish government already holds majority control in Anglo Irish Bank, Irish Nationwide Building Society and EBS building society. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.