Metro police chief Director Avelino Razon Jr. said police bomb experts are still establishing whether the bomb, which was placed near a concrete flower box in front a Philtrust bank branch at the corner of EDSA and Aurora Boulevard, was the handiwork of a criminal or terrorist group or merely a prankster.
"We have no motive as of yet," Razon told The STAR in an interview.
The Metro police chief said initial findings showed that the bomb was made of TNT, which is used in mining and in demolishing buildings.
Senior Superintendent Nicasio Radovan, director of the Central Police District (CPD), identified the victims as Alma Olesco, 23; Joy Lachica, 23, and Lorenzo Reyes Jr., a driver.
They were treated at the East Avenue Medical Center. All have been declared out of danger.
Radovan said the victims were passing by the area when the bomb exploded at about 7:20 p.m.
"As to the group responsible, that is still being determined by our bomb disposal teams," said Radovan, who noted that the casualty figure could have been much higher if the blast took place in the day when there are a lot of passersby.
The blast damaged the banks door and ceiling. It shattered the glass windows, police said.
Philippine National Police (PNP) chief Director General Edgar Aglipay rushed to the scene after receiving reports of the explosion.
He was joined later by Razon, Radovan and Superintendent Benigno Durana, commander of the Cubao police station.
"We still dont know if this is the work of pranksters or terrorists," Aglipay said.
Earlier, Razon placed the 14,000-strong National Capital Regional Police Office (NCRPO) on red alert to prevent criminals and terrorist groups from taking advantage of the New Year celebrations.
Radovan said he could not say whether the exploded bomb is of the same type with the one recovered inside a passenger bus in Quiapo, Manila on Christmas Eve.
Police officials said they are digging deeper into the two bomb incidents.