UPDATE 2-Bank of Ireland eyes more state help

* "Bad bank" impact could lead to further state bailout

* Failure to launch bad bank would hit funding

* Sees impairment of 6.9 bln euros until March 2011

* H1 underlying loss of 979 mln euros; op profit pleases mkt

* Shares up 8 pct after deep falls since early Oct

(Adds market reaction)

By Andras Gergely

DUBLIN, Nov 4 (Reuters) - Bank of Ireland (BKIR.I) warned it might need another state bailout and that the 54-billion euro "bad bank" scheme was still not clear enough, though it soothed some market worries with its operating performance.

Shares in Ireland's biggest bank by assets and market value and rival Allied Irish Banks (ALBK.I) have slid on concerns that delays in the launch of the National Asset Management Agency (NAMA) would set back attempts to raise capital privately as lenders in the United Kingdom are already tapping the market for capital.