The attack on the famous Istiklal Caddesi street sent shockwaves through the city, where a derby between arch-rivals Galatasaray and Fenerbahce was postponed Sunday after the authorities received information of what they called a "serious" threat.
Interior Minister Efken Ala identified the alleged perpetrator of the attack as Mehmet Ozturk from Gaziantep, on the border with Syria.
"The attacker has been formally identified. He is linked to the terrorist organisation Daesh (Islamic State)," Ala said.
Ala insisted however he was "not on our (police) wanted list", defending the government against accusations of repeated security failings following six bombings since July that have killed over 200 people.
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On Saturday, three Israelis and one Iranian were killed when the bomber detonated his explosives. The bodies of the three Israelis were flown home today for burial.
Most of those injured in the blast were foreigners.
Nineteen people were still being treated in hospital Sunday, eight of them in critical condition, the health ministry said.